An easy, faster way to make the EU more competitive
This file photo shows European Union flags fluttering outside the EU Commission headquarters in Brussels, Belgium on July 14, 2021. Based on Draghi's report, the European Commission released the EU Competitiveness Compass on Jan 29 with the aim of enabling the EU to catch up with US and China in productivity, innovation and technology. For example, the China Chamber of Commerce to the EU has for years complained about the red tape and excessive burden caused by the EU's regulations pertaining to Chinese companies operating in Europe. The EU's kowtowing to the US' coercion to ban Huawei's 5G technology has caused the bloc to significantly lag behind in 5G coverage compared with the US, China, the Republic of Korea and Japan based on figures released last week by Brussels-based Connect Europe. It's good to hear von der Leyen telling EU ambassadors on Tuesday that "this will be an intensive year in our relationship with China, as we mark half a century of diplomatic relations", adding that most of the trade is mutually beneficial and there is room to engage constructively with China.
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