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Economic Research Department. Hong Kong Branch.
EU & Asia (China)
Alicia Garcia Herrero
Carlos III 27 de marzo 2008
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Economic Research Department. Hong Kong Branch.
EU & Asia (China)
Índice
01 Economic relations between EU & Asia
02 Economic relations between EU & China
Trade
FDI
Policy Dialogue: ASEM & ASEAN
03 Conclusions
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Economic Research Department. Hong Kong Branch.
EU-ASIA TRADE & INVESTMENT RELATIONS
TRADE
-EU-Asia Trade = 5% Total
World Trade
-In 2006, overall trade with
Asian partners = 30% UE
total trade (ahead of North
America, 20%).
-Three Asian countries in the
top six of EU major trading
partners; China (2), Asean (5)
and Japan (6).
Source: Eurostat.2000
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Economic Research Department. Hong Kong Branch.
EU-ASIA TRADE & INVESTMENT RELATIONS
INVESTMENT
-Third-largest regional destination for outward
investment from the EU, 15% of the total EU outward
FDI stock in 2004.
-Total EU FDI flows to Asia in 1999 amounted to some
€18.8 billion, though this was still a relatively limited
proportion of global EU FDI (Asia accounted for
6.8% of total EU outward FDI in 1999, compared to
67.5% going to the NAFTA countries, 15.1% going to
Central and South America, and 7.5% to Europe
outside the EU.
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Economic Research Department. Hong Kong Branch.
EU & Asia (China)
Índice
01 Economic relations between EU & Asia
02 Economic relations between EU & China
Trade
FDI
Policy Dialogue: ASEM & ASEAN
03 Conclusions
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Economic Research Department. Hong Kong Branch.
EU25 TRADE WITH CHINA
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
EU25 TRADE WITH CHINA
EU25 MERCHANDISE
TRADE WITH CHINA
EU25 TRADE IN
SERVICES WITH
CHINA
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
CHINA TRADE WITH EU25
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
EU TRADE WITH MAIN
PARTNERS
Source: Eurostat.2006
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Economic Research Department. Hong Kong Branch.
EU TRADE WITH MAIN
PARTNERS
Source: Eurostat.2006
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Economic Research Department. Hong Kong Branch.
STRUCTURE OF IMPORTS (%)
EU TO THE
WORLD
EU TO
CHINA
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
STRUCTURE OF IMPORTS (%)
EU TO THE
WORLD
EU TO
CHINA
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
EU25 TRADE WITH CHINA
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
EU25 FOREIGN DIRECT INVESTMENT WITH CHINA
EU25 FDI WITH
CHINA FLOWS
EU25 FDI WITH
CHINA STOCKS
Source: Eurostat.
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Economic Research Department. Hong Kong Branch.
EU SUPPORT TO REGIONAL INTEGRATION
ASEM ( ASIA-EUROPE MEETING)
- Main multilateral instrument for the communication with Asia
- Established in 1996
- EU27 AND thirteen Asian countries (India, Mongolia, Pakistan, Brunei,
Burma/Myanmar, China, Cambodia, Indonesia, Japan, South Korea, Malaysia, Laos,
the Philippines, Singapore, Thailand, and Vietnam) participate in the process.
- ACTIVITIES: Biennial ASEM Summits, Mnisterial and working-level meetings,
activies on political, aconomical and cultural subjects, Asia-Europe Foundation (ASEF)
- MAIN CHARACTERISTICS
Informal: Open Forum for policy makers and officials to discuss any issue,
complementary to bilateral and multilateral for a.
Multidimensional: Same Weight to Economic, Political and Cultural Issues
Equal Partnership: Dialogue and cooperation, mutual respect and benefit.
High Level (Heads of State or Government, Ministers and Senior Officials), fostering
people-to-people contacts in all sectors of society.
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Economic Research Department. Hong Kong Branch.
EU SUPPORT TO REGIONAL INTEGRATION
ASEM ( ASIA-EUROPE MEETING)
Three main actions proposed
-ASEM DIALOGUE FACILITY: Economic and Financial Matters,
Employment and Social Policy, Environment, Cultural Diversity Promotion
and Intercultural Dialogues.
- ASEF PROGRAMME (Asia Europe Foundation) : Promote intellectual,
cultural and people to people exchange focused on civil societies in Asia
and Europe.
-TEIN (Trans Eurasia Information Network Phase 3): Connect research
networks in Asia and Europe by linking EU’s GEANT, the pan-european
gigabit research network. It will promote information exchanges in research
and development and education.
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Economic Research Department. Hong Kong Branch.
EU SUPPORT TO REGIONAL INTEGRATION
ASEAN ( Association of South-East Asian Nations )
- Established in 1967.
- Member countries: Indonesia, Malaysia, Philippines, Singapore, Thailand,
Brunei, Vietnam, Lao PDR, Myanmar and Cambodia
- Main Aims and Purposes of ASEAN: Accelerate economic growth, social
progress and cultural development in the region and to promote
regional peace and stability .
- EU encourage ASEAN’s integration and its efforts to involve other
countries in dialogue and co-operation concentrated on three focal
areas:
1. Regional Capacity Building and Region to Region Dialogues (trade,
security, environment, energy…)
2. Statistical Cooperation
3. Cooperation and Policy Reform in the Field of Security
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Economic Research Department. Hong Kong Branch.
EU & Asia (China)
Índice
01 Economic relations between EU & Asia
02 Economic relations between EU & China
Trade
FDI
Policy Dialogue: ASEM & ASEAN
03 Conclusions
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Economic Research Department. Hong Kong Branch.
China is still not fully open to
competition
After 2001 admission to
WTO, still some tariffs
remain…
…but mainly non tariff
barriers in China
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Economic Research Department. Hong Kong Branch.
This is costly for the rest of the
world but also for China
Cost of Non-Tariff Barriers
12.4 $Billion in traded goods
8.9 $Billion in services
TOTAL = 21.4 $Billion
Looking at trade data, unbalanced trade
may hurt China
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Economic Research Department. Hong Kong Branch.
CHINESE MARKET OBSTACLES
CONSEQUENCES
•Imbalances the Economy (distortion of prices,
overproduction…)
•Domestic Consumption depressed by lack of availability
reasonably priced high quality foreign goods and services
•Europe should engage China in improving quality
standards and, more generally, complying with
international rules
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Economic Research Department. Hong Kong Branch.
WIN-WIN APPROACH
China needs sustainable growth
- + Value Added Manufacturing
- Services
- SMEs/Private Sector
- Restructuring Financial Sector
- Higher Consumer Spending
EU as a provider; EU exports more to Switzerland than to
China (86bn vs 63bn in 2005)
Long Term, reciprocal and mutually beneficial trade benefits
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Economic Research Department. Hong Kong Branch.
“ Muchas Gracias ”
Fecha
Lugar
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