From The Financial Times:
Peter Mandelson, the European Union trade commissioner, warned China on Thursday that the EU could be forced to use anti-dumping measures to defend itself against Chinese exports if Beijing failed to help reduce an “unsustainable” trade deficit rising by ‚Ç¨15m ($22.3m) an hour.
Mr Mandelson’s comments reiterated the call he made in Washington this month highlighting Brussels’ concern ahead of a Sino-EU summit in the Chinese capital next week.
European frustration with China’s limits on market access for foreign companies and an exchange rate policy seen as undervaluing the renminbi has been fuelled by the growth of a trade deficit with China to ‚Ç¨86bn in the first seven months of the year. [Full Text]