Steel: China and Eu

steel: The EU Parliament said in a resolution in May that China excess production capacity and cheap exports are hurting EU employment, urging that China not be granted MES. Facts speak louder than words, however, and, taking the much debated steel industry as an example, China steel exports to the EU are small compared with other countries and its low value-added steel products are complementary to the EU steel market portfolio, according to Xinhua China. Trade with China is by no means a zero-sum game. The European Commission is set to debate its stance on China market economy status on Wednesday, the latest move after a non-binding vote in May rejected the loosening of trade defenses. Without exports from China, the EU would still have to import similar products from other countries. Trade with China is key to helping the embattled EU recover from the financial crisis and a debt crisis, especially as the EU has problems enough of its own making. That will not stem job losses in the EU. Instead, China created 12,000 local jobs in Europe in 2014 as its investment projects in the region rose 40 percent year on year to 210 in total, according to a survey made by Ernst & Young in 2015, noting that it did not include mergers and acquisitions in its survey. (news.financializer.com). As reported in the news.