EU and China Trade Talks Amid €360 Billion Trade Gap
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Europe and China are holding trade talks as tensions grow between the two sides.
China currently has a massive trade surplus with Europe, worth around 360 billion euros.
This means China sells far more goods to Europe than it buys from it.
Officials and media sometimes call China 'the dragon' because of its huge economic power.
China has recently chosen to escalate trade tensions, making the situation more serious.
This comes just before a visit by the EU's trade commissioner to Beijing.
The commissioner is the top EU official responsible for handling trade matters.
At the same time, there is an ongoing investigation related to China's trade practices.
This investigation could worsen the already tense dispute between the two sides.
Many in Europe worry that trade relations with China could become more difficult.
In response, France and Germany have proposed a new initiative.
Their plan aims to address what they call unfair trade practices by China.
Unfair practices refer to ways of trading that do not follow agreed rules.
The two countries hope their initiative will push for fairer trade conditions.
The European Union as a whole is seeking a more balanced trade relationship with China.
Negotiators on both sides are expected to continue discussions in the coming weeks.
The outcome could affect businesses and consumers across Europe and China.
Vocabulary10 words
- trade
- buying and selling goods between countries
- surplus
- the extra amount left when sales are bigger than purchases
- escalate
- to make something more serious or bigger
- commissioner
- a senior official who leads a department in the EU
- investigation
- an official check to find out facts
- dispute
- a serious disagreement between two sides
- initiative
- a new plan created to solve a problem
- practices
- usual ways of doing business
- negotiate
- to talk in order to reach an agreement
- balanced
- fair and equal on both sides
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Quiz
Answer key
1. 360 billion euros 2. It could worsen the trade dispute between Europe and China 3. An initiative against unfair trade practices
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Europe and China are holding _____ talks as tensions grow.
China currently has a massive trade _____ with Europe.
This means China sells far more goods than it _____.
China has recently chosen to _____ trade tensions.
This comes before a visit by the EU's trade _____ to Beijing.
There is an ongoing _____ related to China's trade practices.
This could worsen the already tense _____ between the two sides.
France and Germany have proposed a new _____.
Their plan aims to address unfair trade _____.
The EU is seeking a more _____ trade relationship with China.
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