China Is Taking Over Europe, EU In Panic | France Sparks A Massive 900 Billion Trade Showdown

China Is Taking Over Europe, EU In Panic | France Sparks A Massive 900 Billion Trade Showdown

#europe #economy #china

Recently, the EU decided to get a bit tougher when dealing with China. The main reason behind this change is the worry that French people have about China's trading practices. They believe that the way China does business is causing some serious problems for their most important industries.

Picture this, the city of Paris, known for its romantic atmosphere, but right now, it's the epicenter of this change. The French government is taking the lead in making things happen. They're saying, 'If we don't take action now, their economy could suffer for a very long time.' It's like they've spotted storm clouds on the horizon and want to prepare for the bad weather.

Some important people, like government officials, are talking about this anonymously. These folks remember a time about ten years ago when they had a big problem with solar panels.
Because China started selling super cheap ones, and it nearly wiped out their European solar panel production. It's like when a big sale at a store makes all the regular-priced stuff seem too expensive.

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Macron envisions a different role for Europe altogether. Picture him as a peacemaker on this global economic chessboard, striving to foster equilibrium amidst the chaos. His goal is clear, he wants his fellow leaders within the European Union to perceive Europe as more than just another player in the international financial arena.

Instead, Macron advocates for Europe to take on the role of a fair and neutral referee. In essence, Macron's vision seeks to outdo the competitive dynamics that often dominate international trade relations.

He encourages the EU to stand as a beacon of balance and fairness, a platform where disputes can be resolved with reason and diplomacy rather than escalating into full-blown trade wars.

It's a vision that prioritizes cooperation, stability, and a level playing field for all the major players in these colossal "money clubs." It's like saying that they can help keep things in balance. This way, Paris and other big cities in Europe can make friends with other countries like India.

But here's the twist in their story. Even though they're taking this stronger stance, it's making some people in the EU a bit jittery. Even in Paris, where they're leading the charge, some folks are worried about what happens when they turn their big ideas into real actions.

Some people had different opinions about how China reacted when they started looking into the money they give for electric cars. One person thought China got too worried, like making a mountain out of a pile. But someone else understood that there was a chance of a big trade fight, and that could mean a serious dispute between countries about buying and selling things.

China's Vice Premier, He Lifeng, didn't like it at all, and he told the EU's top trade negotiator, Valdis Dombrovskis, that he was really unhappy about the investigation. French President Macron has been talking for a long time about changing how the EU does its money stuff.

He wants to help industries that are struggling and give more government money to important areas. But not everyone in the EU agrees. Germany, for example, is scared that there might be consequences that hurt their businesses. Smaller countries are also worried about unfair competition from big companies that have a lot of public money.

Now, the EU is looking into subsidies, which could mean extra taxes, and it might completely change how they make their rules. It's like they're rethinking their old ideas about free trade and coming up with new ones.

As Germany steps back from leading the EU, others like France and the European Commission are trying to be in charge. Macron got a boost from President Biden's plan to give big money to local industry during the climate change shift.

Messing with China is a big risk for the EU. They're already dealing with not enough energy and high prices. Plus, it's tough to guess what kind of taxes China might put in place, and it could hit big European companies, including fancy French brands that sell a lot in China. And here's another thing to think about. If the EU raises taxes by just 1%, China could lose around $8.4 billion.

That's not small, but it's just a tiny part of China's sales, only 0.2%. Meanwhile, the EU might feel it more, with 1.5% of their imports getting hit. Europe depends a lot on stuff from China, and this could mean paying more for important things. China, on the other hand, could make their stuff or buy from other places.
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