News / Brèves
Back to previous selection / Retour à la sélection précédente

Liu He Speech in Davos Sends an Encouraging Message About China’s Economy

Printable version / Version imprimable

EIRNS—Speaking to the Davos crowd on January 17, Chinese Vice Premier Liu He said that the recent bout with Covid in China had been brought under control, that China was lowering its Covid restrictions, and that the economy was returning to normal faster than the government had reckoned. He underlined that China was not returning to a planned economy as the Chinese people would not accept that, and that it was taking measures to open up more to private investment.

While his speech was received with some relief by many delegates, EU President Ursula von der Leyen had already laid out markers in her speech that trade must be based “on a level playing field,” which she claimed was not the case with China, and accused the Asian power of heavily subsidizing its own industries and poaching companies from Europe and elsewhere “on the promise of cheap energy, low labor costs and a more lenient regulatory environment.” In spite of EU concerns about U.S. protectionist policies, she called on the two of them to band together against China.

Much of the back-and-forth has to do with an EU-China Investment Treaty, which has been delayed because of EU “concerns” regarding what the EU considers as “unequal treatment” of its companies. [wcj]