Santer gives China free trade warning
Wednesday 04 November 1998
Officials travelling with Mr Santer during his visit to China said that he had presented the Chinese government with a list of specific measures to improve access.
The European Union delegation was frustrated that it had not received a positive response on any of these matters.
Speaking to businessmen in Hong Kong, Mr Santer said that the nature of Europe's open market to China would remain uncertain "unless there is clear evidence of increasing and equivalent access for European business to the Chinese market".
He pointed out that China's trade deficit with the European Union had risen by almost 25 per cent in the first six months of this year, on top of a tripling of the deficit incurred since 1993.
Last year the deficit amounted to 20bn ecu (pounds 17bn). It will be much higher this year.
The European Union is China's second largest export market, after the United States, and is the EU's fifth largest trading partner.
Mr Santer acknowledged that the EU would be increasingly subject to floods of cheap exports from Asian countries where currencies have devalued and export products were on offer at attractive prices.
He said that this was part of the EU's contribution to the recovery of Asian countries.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 Eddie Redmayne in The Danish Girl: First look at Oscar winner as transgender artist
- 4 PornHub turns masturbation into energy in bid to save the planet
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
Leonard Nimoy dead: Star Trek Spock actor dies after suffering lung disease
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...