Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-11-14-Speech-3-044"
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"en.20071114.2.3-044"2
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"Succeeding in the age of globalisation is the great challenge facing the European Union. The question is, how can competitiveness be reconciled with social cohesion, or in other words, globalisation with regulation.
The Lisbon Strategy provides the answer, and the Treaty of Lisbon will make decision-making easier, but success will depend above all on Europe seeing globalisation as an opportunity rather than as a threat. We must understand what is happening with China and India. China has overtaken Great Britain, France and Italy in the ranking of most industrialised nations, overtaken the United States as the major exporter of technological products, and accumulated enormous financial reserves.
As regards India, few people are familiar with the name ‘TATA’. In 2006, however, TATA’s automobile-manufacturing subsidiary had a higher stock exchange value than General Motors, while no-one had heard of the MITTAL Group until it launched a hostile takeover bid against ARCELOR, triggering panic in Paris, Brussels and Luxembourg.
The other side of the Asian miracle, however, must not be forgotten. This is a tale of suffering arising out of the Beijing Government’s complicity with western multinationals that have relocated their factories to take advantage of cheap labour and the absence of a welfare state.
It is in Asia, meanwhile, that the challenge of combating global warming will be won or lost. Europe must be firm and must demand reciprocity in international trade, but must not systematically adopt protectionist policies. It is true that Chinese competition is unfair because of low wages, lack of political and trade union rights, counterfeiting and the undervalued currency. All this is true. It is also true, however, that there are 800 million Chinese and 700 million Indians who are eager to get a decent minimum income and to demand greater social justice. These are challenges for a stronger Europe and a better world."@en1
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