EU Buys Much More from China Than It Sells There, Study Finds
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A new study has found that the European Union imports three times more goods from China than it exports there. This creates a large trade deficit for the EU.
According to the study, the gap between EU imports and exports reached more than €1bn a day in July. This shows how much more the EU spends on Chinese products than China spends on EU products.
The study was published just days before a planned summit between Chinese President Xi Jinping and US President Donald Trump. Trade relations between major economies are being closely watched around the world.
An import is a product that a country buys from abroad, while an export is a product it sells to another country. When a country imports much more than it exports, this is known as a trade deficit.
The large deficit between the EU and China highlights an ongoing issue in global trade. Many European businesses buy cheap goods from China, but the EU sells much less to Chinese markets in return.
Trade imbalances like this can affect jobs, prices, and economic policy. Some European leaders have called for changes to reduce the EU's reliance on Chinese imports and boost exports instead.
The timing of the study, just before the Xi-Trump summit, has drawn extra attention. Analysts say the meeting could influence global trade patterns, including those between China and the EU.
The report adds to wider debates about how the EU should manage its economic relationship with China in the coming years.
Vocabulary10 words
- European Union
- a group of European countries working together
- trade deficit
- when a country buys more than it sells to another
- import
- a product bought from another country
- export
- a product sold to another country
- summit
- a big meeting between important leaders
- bloc
- a group of countries acting as one
- economy
- the system of money, jobs, and trade in a country
- reliance
- depending on something a lot
- analyst
- a person who studies information to explain it
- policy
- a plan of action decided by a government
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Quiz
Answer key
1. The EU imports three times more than it exports 2. More than €1bn a day 3. Xi Jinping and Donald Trump
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
A new study has found that the European Union imports three times more goods from China than it _____ there. This creates a large trade _____ for the EU.
According to the study, the gap between EU imports and exports reached more than _____ a day in July.
The study was published just days before a planned _____ between Chinese President Xi Jinping and US President Donald _____.
An import is a product that a country buys from abroad, while an _____ is a product it sells to another country.
Many European businesses buy cheap goods from China, but the EU sells much less to Chinese _____ in return.
Some European leaders have called for changes to reduce the EU's _____ on Chinese imports and boost exports instead.
The timing of the study, just before the Xi-Trump summit, has drawn extra _____.
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