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The Economic Times
The Economic Times

Beijing signals thaw in EU trade ties after landmark Nordic trip

China laid out a path to addressing deepening frictions with Brussels by calling for boosting trade with the European Union as Foreign Minister Wang Yi wrapped up his charm offensive in Nordic countries.

Beijing “hopes that the EU will remain open, avoid restrictive legislation, relax limitations on exports of high-value products to China, and promote an upward balance in China-EU trade,” according to a statement on Wang’s visit published by Chinese state media on Wednesday. The Foreign Ministry in Beijing also said the day before that the two sides need to view their trade relationship in a more “positive light.”

The message was in stark contrast to the tone adopted by some officials on the continent in the face of a widening trade deficit with China, with French leader Emmanuel Macron calling the situation “life or death” for European industry after his December visit to Beijing. China’s talking points focus more on the benefits of the free flow of goods and cooperation, as it dangles the prospect of greater access to its domestic market to reduce imbalances.

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Wang made the four-nation trip — including the first visit by a Chinese foreign minister to Denmark in 15 years and the first to Sweden in more than two decades — as trade tensions escalate, with European politicians weighing new measures to address the flood of exports from China. Norway isn’t an EU member, though it has access to the single market through the European Economic Area agreement.

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