Capital markets selloff: The financial moguls send messages to monetary authorities

The wild selloff in the major capital markets of the world that culminated last Monday, the first working day of the New Year and continued on Wednesday for a fifth day in row was not just an overreaction to the anticipated slowdown of the Chinese economy, as almost all chief analysts assumed in mainstream media. […]

The UN supports Europe’s military action in Libya and the Mediterranean; Russia and China agree

Last Friday 9 October the UN Security Council and its five permanent members unanimously decided to actually trade entire nations and geographical regions between them. To this effect they authorized the European Union to employ warships in the Libyan waters to “board ships for inspection, seize and even dispose of vessels suspected of being used […]

China is the first non-EU country to invest in Europe’s €315 billion Plan

China is the first non-EU country to contribute to the Juncker Commission’s €315 billion Investment Plan. Until today only nine out of the 28 EU countries have announced their participation in this major project aimed at reviving the sluggish European economy. Beijing has not yet specified the amount to be invested in the Plan but […]

A Sting Exclusive: “The Chinese economy is steady and moving in the right direction”, Ambassador Yang of the Chinese Mission to EU underscores from Brussels

Last summer stock markets in Europe and around the world suffered significant losses due to major turbulences in the Chinese markets. The European Sting following the matter very closely invited Mrs Yang Yanyi, Ambassador and Head of Mission of People’s Republic of China to the European Union, to provide her insights about the stock market plunge in China and also about […]

A new global financial crisis develops fast; who denies it?

During the last two weeks the world’s largest stock markets had a wild time not seen since Lehman Brothers went bust on 15 September 2008. The New York stock exchange in Wall Street lost more than 8% of its capitalization in a few days and then recovered some of the losses to close last Friday […]

Britain and Germany change attitude towards the European Union

Two different developments, completely unrelated with each other, at least in the first reading, took place yesterday and may shape the future of the European Union in the near future. In the first instance the British Prime Minister, David Cameron, on official visit to China, had a quite unpleasant morning yesterday being badly molested by the […]

New chapters in EU-China trade disputes

This year there was no summer recess for the European Commission Directorate General for Trade (DG TRADE) and more precisely for the Directorate C which is competent for Asia. China kept the department’s bureaucrats busy all along this August, because on the 7th and the 16th of this month the Directorate produced two major cases […]

EU Commission retracts on the Chinese solar panel case

In an unexpected move the European Commission announced on Wednesday 7 August that it “…continues anti-subsidy investigation on solar panels from China…”, and this only a few days after Commissioner Karel De Gucht, responsible for foreign trade had announced on 27 July that the issue had been concluded ‘amicably’ between Brussels and Beijing. In contrast […]

China hopes EU Commissioner De Gucht drops super anti-dumping tariff on solar panels

With EU – China bilateral trade volume at more than €1 billion a day and both ways investment flows at around €20bn a year, accusations and complaints over state subsidies, dumping and other trade distorting practices exchanged between the two giant partners seem unimportant. Yet the recent proliferation of the anti-dumping and anti-state-subsidies measures adopted […]

Commission’s action against imports from China questioned

According to European Commission’s procedures, the legal dead line for a decision to be taken on the imposition or not of provisional tariffs on European imports of Chinese solar panels, expires tomorrow 5 June. It must be noted however that the EU Trade Spokesman John Clancy, when issuing a Press release on 27 May noted […]

Germany to help China in trade disputes with Brussels

The visit of the new Prime Minister of the People’s Republic of China and party secretary of the State Council, Li Keqiang to Germany paid tangible dividends. After meeting with the German Chancellor Angela Merkel he got an official and public promise from her that Berlin will intervene in the Brussels procedures, to cool down […]

The EU threatens to impose extra import duties on Chinese products

The powerful EU’s executive arm, the European Commission, announced yesterday its proposal for a new legislation targeted at strengthening the protection of home businesses and products from external competition. It’s a clear effort to help the Union’s economy overcome a deepening recession. The new legislations will be in force early in 2014, after being approved […]

EU Commission closer to imposing anti-dumping duties on Chinese solar panel imports?

According to well-informed Brussels sources, the European Commission secured last week a non-binding authorisation by the EU member states, to impose anti-dumping measures on imports of solar panels and components originating from China. The same sources say, however, that the Commission denied that this will lead to an immediate imposition of such measures and characterised […]

Chinese economy to raise speed and help the world grow

According to the Organisation for Economic Cooperation and Development (OECD), the Chinese economy is bound to resume in strength in 2013 and attain an enviable 8.5% growth rate, after a relatively slow year in 2012, when it marked its slowest yearly GDP increase for years at 7.5%. OECD insists however that the relative slow-down of […]

Chinese “BeiDou” GPS goes to market

Towards the end of last year Beijing announced the opening of its Geostatic Positioning System for civic and commercial users in the region of Asia and Pacific, adding that the China Satellite Navigation Office is working fast to extend the area covered by this satellite umbrella named “BeiDou”. A GPS system “provides location and time information […]

Do the EU policies on agro-food smell?

If we believe what is written in the Treaties, in the European Union everybody is equal and the same flag of democracy waves above the heads of all. But wait a moment. What was that, some English writer, one George Orwell, said in his novel, the Animal Farm? Ah yes, that some are more equal […]

How many more financial crises in the West can the world stand?

“After five years of crisis the world economy is weakening again”, states bluntly the very first phrase of the editorial of OECD’s latest economic report, published on 28 November. Actually it couldn’t be differently, because the US economy doesn’t seem to respond well to therapy and Europe is in a much worse state. But let’s […]