SHANGHAI, July 5. /TASS/. EU duties on imports of electric vehicles from China highlight the weakness of the EU's production capacity and expose Brussels' hypocrisy regarding the so-called market economies of Western countries, Dr. Wang Wen, Executive Dean of Chongyang Institute for Financial Studies at Renmin University of China, told TASS.
"The EU's imposition of temporary countervailing duties on Chinese electric vehicle imports is a wrong move that runs counter to market planning, and is an unfriendly move that runs counter to relevant Sino-European trade agreements and bilateral principles. In addition to exposing the weakness of the EU's electric vehicle production capacity, it also exposes the hypocrisy of the so-called market principle of Western economies," the expert said.
However, he noted that China is not afraid of such steps and will continue to prove that the production of electric vehicles in the country is not developing through subsidies. The expert expressed confidence that China will rely on facts in its attempts to prove it.
"On the other hand, I don’t think that there will be the same trade war between China and Europe as between China and the United States. China’s mechanism for resolving trade disputes with Europe is better than with the United States," the expert said.
Dr. Wang Wen expressed hope for a continuation dialogue and achieving greater mutual understanding on existing differences. However, the EU's top executive noted that consultations with China on this topic have "intensified in recent weeks" and that it looks forward to reaching a negotiated settlement within the framework of WTO rules. In response to the Eu’s move Foreign Ministry spokesman Lin Jian called the EU's investigation into subsidies for Chinese electric vehicles a typical example of protectionism.