The latest decision by the European Union (EU) to impose protectionist duties on imports of battery electric vehicles (EVs) from China has raised concerns about the future of globalization, according to Stephen Perry, president emeritus of Britain's 48 Group Club.
On Friday, European Union countries voted to impose duties on imports of electric vehicles from China, as talks continued between the 27-nation bloc and China to find an amicable solution to their trade dispute before an end-of-October deadline.
In an interview with China Global Television (CGTN), Perry emphasized that the EU's decision, made at the behest of the United States, ignores the opinions of European companies.
"When the Europeans put on the tariffs, what does the Chinese say? Hold on for a second, we've given your car companies a fortune -- the access to the Chinese market. We didn't put tariffs on that, you put tariffs on us, we put tariffs on you. And all the car companies in Europe said, 'Don't put the tariffs on'. But these rather silly people in the EU bureaucracy, following the American advice, want to try to make life difficult for China," said Perry.
He stated that this approach threatens globalization, as the EU operates with national economies rather than global ones.
"And it's involved in a battle with China, which I don't think it will win. Globalization is under threat, protectionism is happening everywhere, but where is it happening? It's happening in Europe and North America. Why? Because they don't have global economies. They have national economies and their companies make things in their countries and they want to continue to make them in their countries because they want to employ their people," said Perry.
EU's protectionist tariffs on Chinese EVs spark concerns over globalization: expert
