EU and China

Lunch today was organised by the China Association together with the EU China Business Association and provided the opportunity to listen to a speech given by Karel de Gucht, EU Trade Commissioner.  Interesting comments included Europe's strong long-term interest in deeper economic engagement with China; about China needing to move up the value chain in order to meet the increasing aspirations of its people; the need for trade openness to be two-sided and a European tendency to exaggerate the downsides of our relationship with China as well as underestimating our own strengths. His overall view was that we should be much more pragmatic in our engagement with China and that clear communication is always called for.