Role of WTO key to EU and China

Comment

In the 10 years since China joined the World Trade Organization (WTO), its trade with the European Union (EU) has expanded enormously. The WTO has provided an important framework for this expansion, but today this role is being overshadowed by the crisis in the EU, which threatens repercussions globally as well as the economic relationship between Europe and China.

Since 2000, the year before China joined the WTO, EU imports from China had grown by 279 percent, worth 283 billion euros ($390 billion) in 2010. Exports to China from the EU increased by 337 percent over the same period to 113 billion euros in 2010. In Europe and China there is a recognition that the trading relationship is now vital to both sides.