EU readies for China trade clash, as frustration grows over imbalance

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The EU’s biggest economies geared up for a clash with China, fueled by growing frustration with a bilateral trade imbalance that politicians contend is hollowing out the bloc’s industries. In a joint letter ahead of a summit of national leaders, France and Germany called for Brussels to enact proposals that allow for countries deemed harmful to be immediately cut off from accessing the bloc’s businesses and consumers; Paris and Berlin did not explicitly reference Beijing, but their complaints of “systemic market-distorting practices” made clear whom they had in mind.
The urgency of their push comes as major European companies undergo huge job losses — Volkswagen plans to cut 100,000 workers — which experts have said could drive political upheaval.

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