Europe can benefit from China-US phase one trade deal - Global Times
China’s highly influential daily, Global Times, carries an opinion piece on Monday, calming down the worries fanned by several media outlets over the impact of the US-China phase one trade deal on the European Union (EU)- China trade relationship.
Key Quotes:
“Many economists in the continent think the China-US agreement will impair the "multilateral trade order" and be "harmful for Europe,
Such worries are completely unnecessary.
On the contrary, the pact between the two largest economies will favor European countries in the long run, because it indicates that China is opening its markets further.
China has always persisted in opening over the past decades. With this new trade deal, China's pace will accelerate and its interaction with the world will increase. Europe can undoubtedly become the beneficiary of a broader Chinese market.
After all, further opening-up means more of China's market can be accessed by foreign companies, including European companies, instead of just American companies.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
