Europe should focus on the enormous long-term opportunities offered by China's rising economic might and not view emerging Asia as a threat, EU Trade Commissioner Peter Mandelson said yesterday.
Addressing the World Economic Forum's Asian Roundtable in Singapore, Mandelson said the ongoing row over China's textile exports showed both sides needed to be more understanding and "realistic with each other."
"We need to overcome some reservations about each other," Mandelson said in his speech to the conference that coincided with the European Commission launching a probe into China's booming textile exports.
"The predominant mindset in Europe today is defensive. If you talk in Europe about Asia and its astonishing growth ... people think of a threat rather than an opportunity. Equally, I have heard complaints this week about the West's protectionist behavior during my discussions with ASEAN [Association of Southeast Asian Nations] interlocutors," he said.
In an open forum following his address, Mandelson urged Europeans to take a long-term perspective on Asia's emergence as an economic power.
"People have to see the growth of Asia's markets as an opportunity for European exporters and investors rather than some rising giant that is setting about the crushing of Europe's economic lifeline," he said.
In the meantime, he said European governments must understand their businesses' insecurities and offer to support affected industries.
"We have to say to our public -- this is an opportunity, not a threat. But equally we are going to help you make this journey, make this transition rather than abandon you," Mandelson said.
Mandelson's calming comments came a day after the European Union announced it would launch a probe into soaring Chinese textile imports, the first step towards possible formal limits on some of those products.
The probe, which was to be launched yesterday, covers nine categories of clothing -- T-shirts, pullovers, blouses, stockings and socks, men's trousers, women's overcoats, brassieres, flax or ramie yarn and woven fabrics flax.
EU textile producers are worried thousands of jobs could be lost if urgent action is not taken to stem a flood of Chinese clothing that was unleashed by the end of a 31-year-old global textiles quota system on Jan. 1.
China has reacted angrily to the probe, arguing Europe is acting against the principles of free trade.
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