EU Strikes Tougher Note on China Trade
While China is the EU's biggest source of manufactured goods, European exports to China are of minor economic importance. In a letter to the president of the European Commission, EU Trade Commissioner Peter Mandelson suggested that China took business in Europe for granted, the BBC reported on Wednesday, Oct. 17. The EU sold more goods to Switzerland than it did to China, Mandelson's letter said, adding that the trade deficit between the EU and China was growing at about 14 million euros ($19 million) every hour."The Chinese juggernaut is, to some extent, out of control," Mandelson added.
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