"There is the incoming new US administration, and also this major political fact over the next couple of years will induce the need for a reset of the EU-China relations." Yves Leterme, Former Prime Minister of Belgium, shared his thoughts on a panel discussion themed 'Further Comprehensive Deepening of Reforms: Connotation, Prospects, and Opportunities' on December 3, as part of the ongoing Understanding China Conference in Guangzhou.
He said the EU over the years has seen China's stronger presence in cutting-edge technologies in different domains, which has brought changes to the local industries and job market.
"The first reaction is to put in place tariff protection. This is not a sustainable solution, so we have to fix this," he added, "and I think that agreements on technology transfer, and agreements on having real activity on European continent that lead to job creation in this field, driven by Chinese investment can be part of a solution.".
He concluded in the future, the creation of wealth, the economic growth of China will still be dependent of its capacity to produce and to export to find consumers abroad. In many ways, he sees it is a bright prospect for both China and the EU.
Starting from Dec 2 to 4, the 8th Understanding China Conference is being held in Guangzhou, Guangdong, themed 'Carry Through the Reform to the End: Chinese Modernization and New Opportunities for World Development'.
The three-day event gathered approximately 600 attendees all over the world, ranging from former political leaders, scholars, entrepreneurs, to delegates of international organizations, to explore China's development path and its global impact.
Reporter | Guo Zedong
Video editor | Ou Xiaoming
Editor | Yuan Zixiang, Shen He
