Spanish Prime Minister's Visit to China Calls for China to Expand Imports to Balance Trade Deficit

Spanish Prime Minister Calls on China to Expand Imports

AFP, Beijing, 13th — During his visit to Beijing today, Spanish Prime Minister Pedro Sánchez stated that the trade imbalance between China and the European Union (EU) is "unsustainable," urging the world's second-largest economy to further open its market to allow more imports.

Sánchez said, "We need China to further open up, to avoid Europe heading toward self-isolation... to help us correct the current trade deficit... This is an imbalanced deficit... in the medium to long term, it is unsustainable for our society."

Sánchez noted that Spain’s trade deficit with China accounts for 74% of Spain’s overall trade deficit, emphasizing that cooperation is crucial to building a "balanced, globalized economy that brings shared prosperity."

Last year, Spain recorded a trade deficit of €42.3 billion with China. Spain is seeking to increase exports of agricultural products and manufactured goods to offset its large imports from China. This visit by Sánchez to China is expected to help narrow the trade deficit.

Original article: toutiao.com/article/1862346756792332/

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