EU & China: it's WAR!

The sky is blue, the sun is warm, God’s in his heaven, all’s right with the world………………and now the EU adds to the gaiety of nations by starting a trade war with China.

 

Perfick!

 

The story so far.

 

The Brussels suits suspected that Mr Chin was subsidising solar panels to be dumped in Europe, which cost about 25% less than EU-made.. So they decided to impose a protectionist tariff.

 

But China knew that the EU subsidised agricultural products big-time via the CAP. In particular, wine receives no less than €2.8 billion a year. France alone receives €1.47 billion. And it exports over 200 million bottles a year to China – that’s right, 200 million!

 

So they are going to retaliate by imposing a protectionist tariff on Club Med wines (but not German, as the sensible Frau Merckel has made it clear that she wants none of this solar panel tariff lark, so she is excused. A bit of ‘divide and rule’ going on here!).

 

The EU is now wriggling, saying that  its move is open to negotiation; not so, says Mr Chin. There’s nothing to negotiate.

 

No bets on who will win; Ladbrokes will not open a book on racing certainties.