One Card Left

Word came that Europe held one card. Ambrose: six containers come from China for every one that goes back; I am uneasy. Pim: I'll send them my snail! Mrs. Applewhite: after 2001, when China joined the WTO, Europe sold China machines and fine cars. Prudence: one card left, a market of five hundred million spenders, says one former ambassador, who adds that Beijing wants no second front while it feuds with America.

Europe's trade with China was not always six containers to one: after China joined the World Trade Organization in 2001 the relationship was complementary, with Europe selling China industrial machinery, luxury goods and high-end cars, until Chinese solar, aluminium and steel battered European producers; a decade ago, the European chamber's president says, China made the pie bigger for everyone, and a former Spanish ambassador says Europe's remaining leverage is its market of 500 million high-spending consumers, since Beijing cannot afford two open fronts at once.

Starring

🎙️The NarratorAmbrosePimMrs. ApplewhitePrudence