Chapter 533: Hidden Worries

In the face of China's unusually sharp counterattack, EU trade leaders held a series of consultations to discuss the current solution.

Negotiators of Germany, which has suffered the most from China's trade retaliation, have strongly demanded that a ban on China's nuclear power industry be re-examined, arguing that a very specialized technical issue such as nuclear power needs to be said by CERN experts, rather than just accepting the words of a particular company.

The implication is that the German side believes that it is necessary to re-examine the EU's current nuclear power protection measures, and the German representative not only waved the flag for his country's automobile industry, but also bluntly pointed out that in the current situation in which European countries have not completely come out of the debt crisis, the first task of the European economy is to maintain stability.

In the face of the opinions of the German representatives, the Italian representatives, who were hit hard by both the luxury industry and the automobile industry, were the first to respond. Romeo and Masalati super luxury cars were originally highly sought after in the Chinese market, and Italy was the second most damaged country in the EU under China's import restrictions.

The Frenchman stood up against the views of Germany and Italy, and he generously described that Europe's nuclear reaction research would be a major blow to Europe after losing the market for nuclear power, and that nuclear research is an important part of maintaining European security, so Europe cannot make concessions on this issue.

Since the butt decides the head, it is natural that the representatives of each country will consider their own national interests first and foremost in such coordination meetings. For most of the Eastern and Northern European countries, they have not lost much in this dispute, because the two industries that China restricts are mainly concentrated in Western European countries.

However, for the Eastern European countries that are more urgent about nuclear power, they put forward that their own energy needs are more urgent, and if the EU or the United States cannot provide nuclear power equipment that can be cost-effective with the Lotus reactor in the case of a blockade of the Lotus reactor technology, they propose that the EU needs to provide energy subsidies to develop thermal power.

Britain, France, Germany, and other countries strongly oppose this kind of view of the representatives of Eastern Europe, and there is no reason to develop their own countries and ask others to provide sponsorship; everyone has already bled too much in the European debt crisis, and now the landlords have no surplus grain, and this bottomless pit of energy subsidies absolutely cannot be discussed.

However, the Nordic countries are deeply convinced of the measure proposed by the representatives of Eastern Europe, they are themselves non-nuclear countries, and they do not believe that Europe needs to master nuclear technology, and in their opinion, it is enough to have the nuclear umbrella provided by the United States, and there is no need for Europe to waste resources in this area and rebuild it.

Nuclear weapons must be the last option for war, and it really comes to this point, and it makes no difference in their opinion whether to use Europe's own nuclear weapons or American nuclear weapons. R&D investment, use and maintenance in this area are extremely expensive, and it is better to invest this money in national social welfare.

This kind of loose alliance to do things, when there is controversy, most of the time it has always been like this, noisy and noisy for a long time is discussed but not decided, the last ban on nuclear power because everyone did not think it was serious, this thing has not been promoted on a large scale, now what we see is only a predicted value rather than the actual value, anyway, they have done a lot of similar things, and they have not seen such a big reaction from the Chinese side, plus there are Americans in front, everyone will push the boat with the water, who knows that the Chinese side has reacted violently against the norm.

Each country has its own small abacus, calculating whether it will lead to a new round of counterattack by China, and what kind of industry will they choose if China counterattacks.

Representatives of these countries are not so stupid, and most countries do not feel the pressure of China's trade retaliation anyway, so they tend to either maintain the status quo or simply negotiate with China to resolve the dispute and open up the EU nuclear power market.

Anyway, if nuclear power investment wants to land, there is still a strong approval procedure within the EU countries, who doesn't want to let the lotus pile of the East come in, just refuse to approve the contract, this kind of approval is not as conspicuous and sensitive as the ban, and the Chinese side must not be able to find any fault, what can be done simply, why make it as tense as it is now.

This is the logic of peacemaking, for the French, it is not the case at all, once it is not the collective action of the EU, they know that in a blink of an eye, Eastern European countries will throw themselves into the bosom of the new energy in the East, and the Nordic countries will completely abandon the French nuclear power plant and use the lotus reactor to solve the increasingly scarce energy problem in their own countries.

In this case, it is useless for France to say that the lotus reactor alone, in France there are already many nuclear power plants in France, and the new market space is too far from that of Eastern Europe and Northern Europe, which are now developing rapidly.

Therefore, the French side strongly opposes this kind of old-fashioned argument of peace.

After such a toss-up, no matter how long the meeting was held, it had no effect, and the first round of joint consultations on the Sino-EU commercial dispute ended without a hitch.

When the news broke out and reached China, officials from the Chinese trade department breathed a sigh of relief. You must know that in this trade dispute, they are the people who are under the most pressure at home, and they have used economic means to protect China's interests, and this is the biggest move.

Compared with the trade sanctions against France for selling weapons to the island, it is much more high-profile, and the amount is also an order of magnitude larger.

It can be said that this is a very rare trade retaliation measure by China against an industrial scale. The trade authorities have analysed the possible future consequences of this measure, and they have listed the most vulnerable sectors in the country based on a list of imports and exports between the two sides, among which the most dangerous is the domestic textile and toy industry.

For the textile and toy industry, the EU is a very important market, the EU imports more than 70 billion US dollars of textiles, clothing and toys from China every year, accounting for more than 40% of the EU's total imports in this regard, which is a very easy to find substitutes for the industry, Europe is fully able to find alternative suppliers from within the EU, Southeast Asia, South Asia and other countries.

Relatively speaking, it is the least harmful to European consumers, although there is still some gap with MadeinChina in terms of price, variety and quality, which will inevitably lead to a rise in market sales prices, and has a negative effect on the price stability of EU countries, but this price is basically bearable for the EU.

But the loss of the EU market would be a major blow to the textile and toy industry, with the possibility that the entire industry would be in winter, with most companies likely to struggle and hundreds of thousands of workers at any time at risk of being laid off.

Therefore, this is a major weakness of the Chinese side. It is also a hidden concern that cannot be solved in the short term, but I don't know whether the EU will use this killer trick to spread the trade war to more industries and make this trade war more and more intense.