Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-321-000"

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"en.20120523.15.3-321-000"2
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"Over the last 30 years, the Chinese economy has achieved an annual growth rate of almost 10%. By the middle of the century, China will become the world’s most powerful economy. The EU’s trade deficit with China has increased from EUR 49 billion in 2000 to EUR 169 billion in 2010. Currency dumping of the yuan has enabled China to amass USD 3 200 billion in foreign exchange reserves, and it is not clear what the penetration of China is into the EU in the area of investment and the purchase of government bonds. China has recently declared that it needs its trading partners to grow so that it can support its own economic development. This can be a basis for the further development of trade relations between the EU and China. The cooperation agreement of 1985 should be updated, but a new investment agreement should also be drafted that would open up EU access to Chinese public procurement under the same conditions as in the EU. I fully agree with these principles."@en1

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