Peter Mandelson: Europe and China: Competition and partnership can go hand in hand

From the IHT:

The spectacular rise of China as a world economic power is one of the great changes of our time. For , as for the United States, it poses a massive competitive challenge. , the United States and Japan are still the big players in the world’s service, high-tech and luxury goods markets, while China continues to consolidate its position as the world’s leading light manufacturer. But China’s high-tech economy is growing. We won’t be trading Airbuses for T-shirts for much longer.

Inevitably, considerations like this have weighed heavily in defining the European Union’s response to China’s considerable capacity as a textile exporter.

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