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 Support The DrudgeReport; Visit Our Advertisers  China Forecast To Become EU's Top Trading Partner In 2005 Thu Feb 05 2004 10:17:54 ET For China, this could well be the Year of Europe, the WALL STREET JOURNAL reports on Thursday. Little noticed above the clamor over China's economic boom and the size of the U.S. trade deficit with China is an economic forecast with huge repercussions for business: In 2005, the European Union is likely to become China's No. 1 trading partner, displacing the U.S. this year and Japan in 2005, according to the EU Commission in Beijing. EU policy makers say they sense an unprecedented Chinese interest in Europe, chiefly driven by China's hunger for export markets, which are seen as key to sustaining economic growth at home. Officials add that it is also partly the result of Beijing's quest for new allies to bolster its view of the need for a multipolar world, rather than one dominated by the U.S. Developing... |
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