European Commission president Romano Prodi expressed concern regarding the European Union's US$65.9 billion trade deficit with China, which he said could be addressed via a stronger yuan. Prodi said the trade deficit with China was primarily fuelled by China's strong exports and barriers to entry for European goods in the Chinese market. Prodi said that the trade deficit with China was raising political concerns in Europe, but that the EU was not as concerned as the US is about its trade deficit with China, which US Vice-President Dick Cheney estimated at US$180 billion per year. Both Prodi and Cheney were speaking at schools in Shanghai.
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