Reuters: “A deal halving Chinese hybrid car imports into Europe will have to be followed by the rebalancing of trade in other sectors and better access to the Chinese market for the EU, European Economic Commissioner Valdis Dombrovskis said ‌on Wednesday.”

For years (including yesterday, at the HSBC conference in Bangkok), I have been saying that imbalances and trade tension can only get worse. We are in the world that Joan Robinson warned about: either we collectively design a system that eliminates beggar-thy-neighbor trade imbalances, or we will do so individually through rising trade barriers.
https://t.co/bJ5VMqr4T2