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Volume 53, September/October 2018, Number 5 · pp. 268-273

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China’s “Socialist Market Economy”: A Systemic Trade Issue

Jacques Pelkmans

EU/China trade relations are intense and rewarding as well as problematic, depending on one’s perspective. China is the EU’s second trading partner, second only to the US, and the EU is China’s first trading partner. However, in goods the EU’s 2017 exports are only about 61% (198 billion euros) of EU imports from China and this imbalance seems structural. In services, trade is much less developed, with bilateral EU 2016 exports amounting to a mere 37 billion euro and EU imports at 27 billion euro.

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