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The Covid-19 pandemic contributed to the continuous slowdown of China's economy, from two-digit growth rates witnessed in the past to a 'new normal' growth rate of 'only' 5.7% on average under the current five-year plan (2016-2020). To what extent does this slowdown affect China's public finances and other macroeconomic indicators? How has EU trade with China developed during the last decade? How important is the EU for China in terms of trade? And what about China's trade relevance for the EU? Has ...

At the beginning of the century, the EU and India were growing exactly at the same path: how about today? Who is the main trade partner of India: China or the EU? And would you ever think that the EU exports to India pearls and precious stones more than optical instruments? And how much is it easy to do business in New Delhi? Find the answers to these and many more questions in our EPRS publication on ‘India: Economic indicators and trade with EU’, part of a series of infographics produced in collaboration ...

On 11 April 2018, the European Commission published a proposal to review the General Food Law Regulation and amend eight legislative acts dealing with specific food chain sectors. The proposal follows up on the European Citizens' Initiative on glyphosate; and especially on concerns regarding the transparency of the scientific studies used in the evaluation of pesticides. The proposal also responds to a fitness check of the General Food Law, completed in January 2018. The proposal's objective is to ...

Globally, anti-trade sentiment is on the rise, meaning it is incumbent upon policymakers to explore and explain the benefits of free and open trade. This study examines the costs and benefits of various free trade agreements (FTAs) that the EU has completed, will complete, or is contemplating. With regard to completed FTAs, the EU has seen benefits in terms of consumer choice but has a much larger and positive impact on its partners (although not as much as ex-ante modelling would suggest). For forthcoming ...

This report independently assesses the EU-Japan Economic Partnership Agreement. We find that the EPA establishes an ambitious framework to further liberalise and better organise trade, covering goods, services, intellectual property and investment, tariff- and non-tariff measures, and regulatory cooperation. Given its depth and breadth, and that it is unprecedented in including provisions on corporate governance, SMEs, and climate change, the EPA is set to become a benchmark for future trade agreements ...

Directive 2011/7/EU on late payments in commercial transactions (Late Payment Directive, (LPD)) strengthened European regulations first introduced in 2000 in favour of creditors. In addition to statutory interest, the application of which is still not automatic, maximum periods were established for payments in business-to-business transactions and those with public authorities, limiting contractual freedom, which is often abused by stronger companies. Following the largely correct transposition into ...

Representing a third of global official development aid flows annually, aid for trade (AfT) has been on the rise. AfT has a very broad scope that includes projects ranging from building roads and modernising ports, to developing the banking sector, helping local food producers to comply with phytosanitary standards and providing more specific trade-related assistance, such as technical support in trade negotiations. Today, more than a decade after the launch in 2006 of the World Trade Organization's ...

East Asia

EU Fact Sheets 01-07-2017

Asia is the world’s largest and most populous continent, and of great geostrategic importance to the EU. The EU has three strategic partners in East Asia: China, Japan and the Republic of Korea. It faces security concerns in the region, such as the nuclear challenge in North Korea and the disputed South China Sea. The EU is a strong economic player and major aid and development donor, working to foster institution-building, democracy, good governance and human rights.

This paper describes recent technological developments and their possible impact on monetary policy and financial stability. We find that privately issued digital currencies could transform the present financial system substantially, if they gain considerable market shares, while there may be a benefit from currency competition in disciplining monetary policy. The introduction of a central bank digital currency would also challenge the present fractional reserve system at its core and could finally ...

With the Comprehensive Economic and Trade Agreement (CETA) negotiations concluded and subsequently signed by both parties, the European Union and Canada’s most progressive trade agreement to date is set to provisionally enter into force soon. However, as developed countries move to negotiate preferential trade agreements between themselves (like the CETA), extending beyond current multilateral trade obligations, the improved market access, trade harmonisation and cross-cutting issues included in ...