Skip to main content

EU Tells China More Access Needed to Seal Investment Accord

EU Tells China More Access Needed to Seal Investment Accord(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.European Union Trade Commissioner Phil Hogan said China must improve an offer to scale back barriers to foreign money if the two sides are to reach a long-sought investment agreement this year.While demanding more concessions from Beijing, Hogan kept alive an end-2020 target date for achieving an accord that would ease European investors’ access to the Chinese market.“We are making progress,” Hogan told a BusinessEurope conference on Monday in Brussels. “We are not satisfied with the existing offer.”The outcome of the investment accord talks may serve as an indication of the EU’s broader approach toward China. So far, the bloc has taken a less confrontational approach than U.S. President Donald Trump in seeking to rebalance its trading and investment relationship with the world’s second-largest economy.The EU is China’s No. 1 trade partner, while the Chinese market is the second biggest for European exports after the U.S.Both sides have been in talks since 2013 on a bilateral pact that would reduce Chinese restrictions on European companies. In April last year, the EU and China set a 2020 target date for reaching an “ambitious” investment deal.“Our objective is to keep working with China in relation to this agreement and conclude it by the end of this year,” Hogan said on Monday. “We will be as ambitious as we possibly can.”In the negotiations, the EU will give priority to “substance over speed,” he said.“We’ll have to make an assessment as we go along about whether we’re going to get 100% of what we want; usually that doesn’t happen that way,” Hogan said. “But if we get 99 I’ll be happy.”To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Flavia Krause-JacksonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.




from Yahoo News - Latest News & Headlines https://ift.tt/2sKQI3q

Labels:

Comments

Post a Comment

Popular posts from this blog

REPORT: Furious Spike Lee Paces Aisle, Turns Back To Stage...

REPORT: Furious Spike Lee Paces Aisle, Turns Back To Stage... (Top headline, 5th story, link ) Related stories: REVIEW: Hostless Show Starts With Rock & Rolls Off Rails... Actor knocks borders, walls during speech in Spanish... Stage designed to look like Trump hair? 'GREEN BOOK' OVERCOMES BACKLASH, NABS BEST PICTURE... Top Critics Fume... LIST: WINNERS... Advertise here from Drudge Report Feed https://ift.tt/2SUpIKy
Post a Comment
Read more

Tiny Love Stories: ‘Who Was I to Deprive Him of Joy?’

By Unknown Author from NYT Style https://ift.tt/2UV7YAG
Post a Comment
Read more

The Ugly History of Dual-Loyalty Charges

When Representative Ilhan Omar recently complained about “the political influence in this country that says it is okay to push for allegiance to a foreign country,” many noted accurately that she had deployed a trope—dual loyalty—that had been used against Jews for years. But this accusation has a broader history in the United States, having been used against several religious minorities—including Muslims like Omar. Indeed, many battles over religious freedom have revolved around dual-loyalty claims. [ Read: Ilhan Omar just made it harder to have a nuanced debate about Israel ] In the 19th century, many attacks on Catholics stressed that these immigrants were pawns of a foreign power. In the 1830s, Samuel Morse—then a prominent painter and later the inventor of the telegraph—urged Americans to build “walls” and “gates” to keep out Catholic immigrants, who would always be loyal to Rome. Because these Catholic immigrants were decrepit —“halt, and blind, and naked”—they were easy to co...
Post a Comment
Read more