China, EU navigate path between trade balance, protectionism

As protectionism rises globally, China and the European Union (EU) are seeking a path between trade balance and cooperation, according to Wang Yiwei, director of the Institute of International Affairs and the Center for European Studies at Renmin University of China.

There is an ongoing global debate about where to draw the line between balancing trade and protecting domestic industries. In Europe, concerns about the continent's trade imbalance with China have become a major issue in economic and trade relations and a key consideration behind the EU's recent push to strengthen its trade policy instruments.

Wang shared his insights on this evolving dynamic, stressing that free trade is ultimately in the interests of both sides.

"Protectionism is rising in the world, from the U.S., from Europe, and some people even claim from China. The so-called protectionism is not (about) market access fully to China. They're more setting the precondition. Before the environmental protection criteria, but now, they even need a quarter of the China product sales to Europe. And also the protectionism is rising because the Europeans are not in favor of free trade. They think free trade is more in China's favor. Actually, China and the European Union in the long term and fundamentally benefit from free trade and multilateral cooperation. So we need to address the Europeans' concern and then to reach the high-quality development of China, and then win-win 2.0 of between China and the European trade," said Wang.

With growing economic interdependence, many hope for a path forward that focuses on innovation and sustainable growth through collaborative efforts, but both China and the EU face pressure to protect strategic industries.

"I think the Europeans' concern is technical, like the trade deficit, but they put this as the policy problem, like planned substitutes, and also maybe interest rate, and also maybe kind of the so-called state capitalism, so it's not in favor of the Europeans. However, I think the real reason for the Europeans' concern is the comparative advantage. I think cooperation with China may help solve this problem in the long term, not just put China as the scapegoat of losing their comparative advantage in the industrialization 4.0," said Wang.

China, EU navigate path between trade balance, protectionism

Israel marked the somber third anniversary of the Oct. 7 Hamas attack that triggered the current round of conflict in Gaza, with national memorial events laying bare deep societal rifts across the country.

The divisions were evident in the anniversary commemorations, as many families of hostages and their supporters chose to skip government-organized ceremonies, arguing that the war had been prolonged for political gains.

"My family who lives in Israel would never go near a government ceremony, which is sad that even in grief we are so divided; the country is still so divided," said Julia, a Canadian visitor to Israel.

As government ministers took the stage in Jerusalem, the families chose to be elsewhere, including at "The Space Left Behind," an exhibition at the Peres Center in Tel Aviv showcasing personal belongings of those killed in the Oct. 7 attack and the war that followed.

"We are giving as much as we can to the families. I feel like the politics is coming between [us and] that exhibition, just because this is all for life," said Emek Keidar Juma'a, curator of "The Space Left Behind" exhibition.

"I have the feeling that I had when I went to Hostages Square. The support of the people in Israel, it's so exciting, and also here. And I see that people are reading and seeing Tal's item, and it's very exciting because they don't have to come. They choose to come in support," said Ela Haimi, a Gaza border resident, who lost her husband Tal in the October 7 attack.

The Hamas-led attack on southern Israel on Oct. 7, 2023, killed about 1,200 people and triggered a massive Israeli military campaign across Gaza that has killed, according to Gaza-based health authorities, more than 74,200 people. It subsequently expanded into fighting across the region.

Israel marks third anniversary of Oct. 7 attack amid deep societal divisions