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Free AccessVdL-We Discussed 'Level Playing Field' w/China; Scholz To Meet Xi Early Nov
Comments from Commission President Ursula von der Leyen, Council President Charles Michel, and German Chancellor Olaf Scholz hitting wires following the conclusion of the European Council summit in Brussels.
- Following talks between EU leaders on relations with China (held in a meeting with no mobile phones allowed), VdL states that regarding China the 'topic of semiconductors is of vital importance', adding that the EU 'needs to urgently ramp up production'. Says that EU leaders discussed leveling the playing field with China, saying 'I hope to soon add another layer to [the] anti-coercion instrument'.
- Council President Michel says that the EU 'must be firm' on China and 'defend democratic values'. Adds that the EU 'sees the importance of strategic autonomy on China'.
- Chancellor Scholz confirms that his trip to China to meet with President Xi Jinping will take place in 'early November'. Scholz will be the first western leader to meet personally with Xi since the COVID pandemic.
- On a separate issue, Chancellor Scholz states that the EU 'made good progress on energy prices', but stated that 'there is still a lot of technical work to do'. Adding,
- Scholz: “Although there may have been before this meeting some prophecies of doom, the energy ministers now have a strong basis for talks on Tuesday.” Speaks out against QMV vote on the issue of a gas price cap, instead backs unanimity: "We agreed that we want to act in mutual agreement, that no single country ought to be outvoted. We’ve done this on earlier occasions too"
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.