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
As the National Day holiday is coming to an end, the long break has revitalized urban commercial areas, with trade-in programs for consumer goods and multiple cultural and sports events attracting considerable crowds, resulting in a bustling consumer market across various regions.
The National Day holiday, starting on October 1 and known as a "Golden Week," is one of China's largest annual public holidays.
During the first five days of the holiday, an average of around 300 million trips were made daily, with bustling crowds at major scenic spots and museums. Nationwide, ticket bookings increased by over 37 percent compared to last year.
In Chengdu City of southwest China's Sichuan Province, naked-eye 3D experience program has attracted hordes of consumers.
"I took my child to experience it and hope that he can feel the charm of technology through these experiences," said Luo Zhiyong, a local in Chengdu City.
In the first four days of the National Day holiday, Beijing's 60 key commercial districts recorded a foot traffic of 26.969 million, marking a year-on-year increase of 20.9 percent. In east China's Jiangsu Province, key retail enterprises achieved cumulative sales of approximately 2.06 billion yuan (about 293.5 million U.S. dollars), a year-on-year increase of 13.5 percent. Key commercial areas in cities like Chengdu and Hangzhou also showed significant growth in both foot traffic and sales.
During the National Day holiday, various regions accelerated the promotion of trade-in programs for consumer goods, boosting the consumption of bulk commodities. The government allocated 60 billion yuan in subsidies for these trade-in initiatives, stimulating the holiday economy and invigorating market activity.
To ensure that consumers nationwide receive the freshest agricultural products from northwest China's Xinjiang Uygur Autonomous Region, China Post has utilized a green transport channel for fresh produce, helping local geographical indication (GI) products reach markets across the country.
"We primarily use air freight and express rapid delivery to transport our walnuts from Yecheng County to major cities within two to three days, ensuring that people can enjoy the freshest walnuts available," said Yan Qiang, general manager of China Post Xinjiang Yecheng County Branch.
National Day holiday sees booming consumption due to various stimulus measures
