China's vice premier warns EU over protectionism

Chinese Vice Premier Wang Qishan warned Europe about turning to protectionism at the start of talks with EU officials on Thursday, AFP reported. “Both sides should oppose protectionism in unequivocal terms. The beggar-thy-neighbor approach will only lead to problems,” Wang told participants, which included EU Trade Commissioner Catherine Ashton. The EU and China are scheduled to hold a summit in Prague on May 20, with trade relations expected to be at the fore. It will be the second high-level economic and trade dialogue – modeled on the US-China Strategic Economic Dialogue – between the two sides. The EU is China’s largest trading partner and technology supplier. China is the EU’s second-largest trading partner.