As China and the EU are planning to mark 50 years of bilateral economic relations with a summit in Beijing, tensions are mounting amid trade and geopolitical conflicts.
00:00Since October of last year, Chinese electric cars imported into the European Union have been hit with tariffs, anywhere from 27 to 45 percent.
00:10Beijing opposes the levies, and the fact that Chinese companies face restrictions when participating in EU energy initiatives.
00:19Meanwhile, Europe is dealing with its own trade challenges, like restrictions on exporting rare earths from China.
00:25In general, EU firms feel the playing field is unfair.
00:30Two Chinese banks were recently hit with EU sanctions for allegedly cooperating with Russia.
00:37Apparently, the EU wanted to send a clear message that they're serious about concerns over China's support for Russia, whether direct or indirect.
00:45They've made their stance known. Now it'll be interesting to see how China responds to this.
00:51The biggest concern from Europe's perspective is trade balance.
00:59While China continues to expand its exports, European exports to China are stagnating.
01:04The result? Europe's trade deficit with China is growing.
01:08Europe saw China opening its borders further, offering opportunities to invest and sell.
01:16What many didn't anticipate, or weren't fully prepared for, was that China would leverage its accession to the WTO in 2001 to gain access to other markets, and at the same time, work hard to become more competitive.
01:31This is especially true for the automotive and pharmaceutical industries, two important sectors for the European economy.
01:40Chinese companies are no longer allowed to participate in large tenders for medical supplies, and EU firms face similar restrictions in China.
01:48Trust is currently missing between the two sides.
01:53That's a fundamental issue that can only be rebuilt through negotiations and must lead to concrete action.
02:00The deeply intertwined economic relationship between Europe and China makes outright escalation tricky, and not without consequence for both powers.
02:10But easing tensions is complicated.
02:13China is both a competitor to Europe and a strategic rival.
02:18China is quiteimb月ka.
02:27ChinaWorks Taiwan is said to China.
02:31China comes around the country and war and China.
02:35China travels around the country and the Nadia are no longer able to choose the originality about China.
02:40It'll be commonplace to China and China comes beyond the country.
02:42China occurs, China has done its третьiority and independence to India.
02:46China isisenéhouremos, China has built Nationselaと anti- equilibrium débats to its best part in Europe.
