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If EU Adopts 'Made in Europe' Plan, China Vows Retaliatory Measures
๐Ÿ‡ฑ๐Ÿ‡น Lithuania /Economy & Trade

If EU Adopts 'Made in Europe' Plan, China Vows Retaliatory Measures

From Delfi · (8m ago) Lithuanian Critical tone

Translated from Lithuanian, summarized and contextualized by DistantNews.

TLDR

  • - China has strongly criticized the European Union's plan to bolster its industry against Chinese competition.
  • Beijing has vowed to take countermeasures if the EU adopts the "Made in Europe" plan.
  • The EU's initiative aims to strengthen the bloc's industry to withstand fierce competition from China.

Beijing has issued a stern warning to the European Union regarding its proposed "Made in Europe" industrial plan. We view this initiative with deep concern, as it appears designed to erect barriers against fair competition and specifically targets China's burgeoning industrial capabilities. The EU's stated aim to strengthen its bloc's industry is, in our view, a thinly veiled attempt to stifle legitimate economic growth and protect less competitive domestic sectors.

We have been clear in our response: should the EU proceed with adopting this plan, China will not stand idly by. We are prepared to implement necessary countermeasures to safeguard our economic interests and ensure a level playing field. Such protectionist measures by the EU are counterproductive and risk escalating trade tensions, ultimately harming global economic stability.

From our perspective, this move by the EU is a step backward from the principles of free trade and open markets that should govern international economic relations. Instead of fostering innovation and competitiveness, the EU seems intent on resorting to protectionism. We urge the EU to reconsider this path and engage in constructive dialogue rather than resorting to measures that could provoke retaliatory actions and damage the vital economic ties between China and Europe.

DistantNews Editorial

Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.