The EU vs China: it’s complicated. With Bernd Lange

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• 00:00

  How do you win a trade war with a country you depend on?

• 00:05

  The EU is trying to work it out as it plans to get tougher with China.

• 00:10

  Our trade deficit with China is now €1 billion a day.

• 00:18

  It has reached a tipping point.

• 00:20

  That's Ursula von der Leyen, the president of the European Commission, speaking in September.

• 00:26

  Cheap Chinese imports are piling into Europe in sectors from cars to chemicals,

• 00:31

  and unlike in the past, the Chinese are not buying much back.

• 00:35

  European leaders are treating it like an emergency,

• 00:38

  though it's still Europe, so quite a slow-burning emergency.

• 00:43

  But is this a trade fight the EU can win? And if so, how?

• 00:53

  This is The Economics Show with Soumaya Keynes.

• 00:56

  I'm joined today by Bernd Lange,

• 00:58

  chair of the European Parliament's Committee on International Trade

• 01:02

  and a loud and important voice in the EU's trade debates.

• 01:06

  Bernd, hello.

• 01:07

  Hello.

• 01:09

  On this show, we always start with a silly question, where the answer is on a scale of 1 to 10.

• 01:15

  So on that scale of 1 to 10, a very scientific scale,

• 01:19

  how much trouble is the EU in when it comes to navigating trade wars?

• 01:25

  So, 0 is no trouble at all, everything is great;

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