"China is already the EU’s second biggest trading partner and the EU is China’s biggest trading partner. However, a substantial economic potential remains untapped due to the challenges that China’s state-led economy pose", Director General Markus J. Beyrer said at a press conference presenting BusinessEurope’s latest publication: "The EU and China: addressing the systematic challenge". China, Beyrer explained, is currently not moving towards more market-oriented reforms; the EU needs to take its own measures to address the systemic challenges with a view to securing a stronger and fairer economic relationship and levelling the playing field. To make the economic relationship between these two countries stronger and fairer, BusinessEurope proposes four key objectives for the EU to pursue: (1) securing a level playing field between China and the EU; (2) mitigating the impact of China’s government-induced market distortions; (3) reinforcing the EU’s own competitiveness; and (4) ensuring fair competition and cooperation on third markets.
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