China has more cards to play in EU trade dispute: People's Daily

BEIJING Wed Jun 5, 2013 10:24pm EDT

1 of 5. A man eats his breakfast as he walks under solar panels belonging to a solar power plant in Shenyang, Liaoning province June 5, 2013.

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BEIJING (Reuters) - China still has plenty more cards to play in an increasingly ugly trade dispute with the European Union, the official People's Daily newspaper said on Thursday, accusing Europe of not realizing that its global power was waning.

The EU will impose duties on imports of Chinese solar panels from this week, a move that infuriated Beijing despite European attempts to soften the blow with a reduced rate. China in response announced on Wednesday its own anti-dumping and anti-subsidy probe into imports of wine from the EU.

Both sides say they still want to resolve the row through talks.

However, the People's Daily, the ruling Communist Party's official mouthpiece, said in a commentary that Beijing could take yet more measures against the EU.

"We have set the table for talks, (yet) there are still plenty of cards we can play," the newspaper wrote. "China does not want a trade war, but trade protectionism cannot but bring about a counter-attack."

A declining Europe needs to understand it can no longer laud it over other countries, the paper added.

"Times change and power rises and falls. Still this has not changed the deep-rooted, haughty attitudes of certain Europeans," it wrote.

EU Trade Commissioner Karel De Gucht intentionally "stirred up trouble" in pushing through the duties on Chinese solar panels despite objections from many EU states, the daily said.

"This is not normal," it added.

The article was published under the pen name "Zhong Sheng", meaning "Voice of China", a name used to give the newspaper's views on foreign affairs.

The EU duties will deal a blow to Chinese solar companies such as Trina Solar Ltd, Suntech Power Holdings Co. Ltd. and Yingli Green Energy Holding Co. Ltd., and can be expected to drive up the price of their panels in Europe.

China appears to have chosen to target EU wines in more of a symbolic move than if it had targeted industrial exports such as Airbus aircraft, made by Toulouse-based European aerospace group EADS.

EU wine exports to China excluding Hong Kong, which EU officials say are not covered by the announcement, reached 257.3 million liters in 2012 for a value of nearly $1 billion. More than half - 139.5 million liters - came from France.

Diageo and Pernod are among the suppliers.

(Reporting by Ben Blanchard; Editing by Mark Bendeich)

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Comments (2)
probusnews wrote:
The seeds of this debacle of a 47% Chinese import tax were sown largely by a going broke German and Italian solar panel companies who complained to the EU golden trough gobblers commissioners in Brussels. This complaint was backed by the German Chancellor Angela Merkel and the French Premier. Merkel now having realised she has dropped an almighty clanger the duplicitous woman screams from the roof tops that Germany has been opposed to import taxes from the offset (barff). That is after she realised that the inscrutable Chinese have nailed those countries who backed the tax by putting an import tax on the lucrative European export wine trade. The countries to be hit hardest will be the French, Italians and Germans. May the Chinese continue to find other ways to hit the Euro Zone and leave alone the states who vehemently opposed this typical Franco/ German self interest policy, say for example the UK. All pigs in Europe are equal so to insure harmony and peace say the duplicitous French and German ? O yes lets review this one. Germany and France with nine other Euro zone hangers on cooked up a cunning plan to implement a transaction tax the monies from which are to go into a bail out fund to assist more gone bust Eurozone countries. However the neat twist was that all 27 EU member states would be forced to implement the tax to world wide business who had financial dealings with business’ in Europe. It transpired the UK ( a none EZ member ) would contribute more into the EZ slush fund than all the members of the EZ put together. The upshot the UK have told Germany, France and their puppets to go jump in a lake as they have taken the corrupt Brussels federalists bandits to court for a scam which the MAFIA would have been proud of. Given the international community have cottoned on to what Merkel and her lap dogs are up to this bunch of Smart A***s may find that whilst the EZ economy and exports out side the EU continue to drop like a stone thrown into a pond, the likes of the British Export market, say cars, will continue to boom. After the instances of a transaction tax and an import tax it is likely the EZ will sink even further in to the corrupt EZ cesspit of its own making as none EZ states distance themselves from the stench.

Jun 06, 2013 3:06am EDT  --  Report as abuse
ADroyd wrote:
“A declining Europe needs to understand it can no longer laud it over other countries, the paper added.”
LAUD means to praise
LORD is some-one who thinks he is above others.
You have managed to turn your sentence into the opposite of what was intended.

Jun 06, 2013 9:24am EDT  --  Report as abuse
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