Thursday 29 November 2007
Ten years after its adhesion to the World Trade Organization (WTO), China has muscled in as the Middle Kingdom of the global economy. Do the prices of oil and other raw materials increase? That's China's fault. Has the American finance crisis had few repercussions on the rest of the world? That's thanks to China. China has become the premier exporter of manufactured goods to the United States, ahead of Germany.
Nonetheless, China remains, in many respects, a protectionist country. To sell the Airbus there, EADS had no choice but to construct a local factory. In the service sector, banks and insurance companies have the greatest difficulties establishing themselves there. During its last summer university, the Medef [French employers' union] consecrated part of its work to wondering whether "China plays the game"? Away on business in Beijing, Wednesday, November 28, European Commission President Jos» Barroso supplied the answer: premier supplier to the European Union, China buys less from the Union than ... Switzerland.
That's the context in which the altogether exceptional diplomatic ballet the Europeans have just effected in China must be placed. Apart from Nicolas Sarkozy's visit, the principal European leaders have just participated in the tenth annual EU-China summit. For the first time, Eurogroup (European Finance Ministers' forum) President Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Commissioner for Economic Affairs Joaquin Almunia traveled together Wednesday to solemnize their request to see the Yuan revalued.
This joint action is all the more symbolic in that the Europeans don't have many illusions about results. Decided on during this visit, the creation of a Sino-European work group on trade questions looks a lot like a Chinese demurral.
China's weight is such that it must assume its responsibilities within the economic as well as in the environmental field, Nicolas Sarkozy declared. One can only agree with him. But if Europe wants to be considered as important a partner for Beijing as the United States is, it will have to speak with a single voice. Yet on the human rights question, as on the issue of lifting the embargo against military material, as on the dispositions to take against countries that do not respect the Kyoto Protocol, Europe is divided ... hence, inaudible.
If Europe wants China to assume its responsibilities, then it must open its doors to China, those of the G-8, for example, where China is not represented while Russia sits enthroned there, and increase China's weight at the International Monetary Fund (IMF), where it does not have the position it warrants.
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Europe at the Hands of Beijing
Le Monde | Editorial
Thursday 29 November 2007
Ten years after its adhesion to the World Trade Organization (WTO), China has muscled in as the Middle Kingdom of the global economy. Do the prices of oil and other raw materials increase? That's China's fault. Has the American finance crisis had few repercussions on the rest of the world? That's thanks to China. China has become the premier exporter of manufactured goods to the United States, ahead of Germany.
Nonetheless, China remains, in many respects, a protectionist country. To sell the Airbus there, EADS had no choice but to construct a local factory. In the service sector, banks and insurance companies have the greatest difficulties establishing themselves there. During its last summer university, the Medef [French employers' union] consecrated part of its work to wondering whether "China plays the game"? Away on business in Beijing, Wednesday, November 28, European Commission President Jos» Barroso supplied the answer: premier supplier to the European Union, China buys less from the Union than ... Switzerland.
That's the context in which the altogether exceptional diplomatic ballet the Europeans have just effected in China must be placed. Apart from Nicolas Sarkozy's visit, the principal European leaders have just participated in the tenth annual EU-China summit. For the first time, Eurogroup (European Finance Ministers' forum) President Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Commissioner for Economic Affairs Joaquin Almunia traveled together Wednesday to solemnize their request to see the Yuan revalued.
This joint action is all the more symbolic in that the Europeans don't have many illusions about results. Decided on during this visit, the creation of a Sino-European work group on trade questions looks a lot like a Chinese demurral.
China's weight is such that it must assume its responsibilities within the economic as well as in the environmental field, Nicolas Sarkozy declared. One can only agree with him. But if Europe wants to be considered as important a partner for Beijing as the United States is, it will have to speak with a single voice. Yet on the human rights question, as on the issue of lifting the embargo against military material, as on the dispositions to take against countries that do not respect the Kyoto Protocol, Europe is divided ... hence, inaudible.
If Europe wants China to assume its responsibilities, then it must open its doors to China, those of the G-8, for example, where China is not represented while Russia sits enthroned there, and increase China's weight at the International Monetary Fund (IMF), where it does not have the position it warrants.
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