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BEIJING， May 13 (Xinhua) -- European Union lawmakers' vote against granting market economy status (MES) to China sends a worrying signal that one of the world's most important trade relations risks deteriorating.


The EU Parliament said in a resolution on Thursday that China's excess production capacity and cheap exports are hurting EU jobs， urging the European Union not to grant China the MES.


Although the non-binding resolution by the EU parliament is not legally effective， it could carry the wrong message that China's booming trade with the EU is based on artificial and unfair price advantages， which distorts the real picture.


Since China joined the World Trade Organization (WTO)， it has been relentless in trying to reduce the government's sway in economic activity and give market forces a bigger role.


As the world's second-largest economy is working to transition from relying on exports to consumption， China is grappling with soaring production costs. The country's exporters have felt the growing pains.


With the global economy battling with a prolonged and slow recovery， major trading countries tend to seek protectionism to support domestic industry. Trade frictions have been rising dramatically in the steel sector globally of late， as the world's major steel makers are facing production overcapacity.


The EU's censure of China as being accountable for the steel glut in the 27-country bloc is untenable. China's steel exports to the EU are small compared with other countries. The Asian giant's low value-added steel products are complementary to the EU's steel market portfolio.


Without exports from China， the EU would still have to turn to other countries to import similar products. That will not stem job losses in the EU.


The opposition to giving China MES within the EU mainly comes from southern European countries， where steel， textile and other manufacturing sectors have been hard hit. More competitive manufacturing countries such as Britain and Holland have voiced their support for granting China the status.


In its resolution statement， the European Parliament recognized the importance of the EU partnership with China， stressing that Chinese market "has been the main engine of profitability for a number of EU industries and brands."


China is the EU's second-biggest trading partner， with daily trade flows of over 1 billion euros (1.14 billion U.S. dollars). Giving China MES will make China-EU trade ties stronger than ever before， given the increasing interdependence between the world's two major economies.


The EU should think twice before making a final decision on China's MES. Only by heeding the progress China has made in its market economy agenda and discarding deeply-rooted prejudice can China-EU trade relations move forward in a healthy way that bodes well for both.


Related:


Commentary: EU lawmakers' refusal to recognize China's market economy status biased， myopic


BEIJING， May 13 (Xinhua) -- In a move that clearly bows to industry lobbyists， the European Parliament on Thursday passed a resolution urging the European Union (EU) not to grant China a market economy status， which reflects a kind of bias and myopia.


Though it is non-binding， the very fact that an overwhelming majority(with 546 votes in favor and 28 against) of EU lawmakers refuse to recognize China as a market economy may as well cast a shadow on China-EU trade ties， which have been thriving for years and produced tangible benefits to both sides.Full Story


EU lawmakers stress China's importance as trade partner， but oppose change in status


STRASBOURG， May 12 (Xinhua) -- In a non-legislative resolution on Thursday， members of the European Parliament (MEPs) stressed the importance of the European Union's (EU) partnership with China. Nevertheless， the EU lawmakers were opposed to recognizing China's market economy status (MES) as set out in global trade rules.


China joined the World Trade Organization (WTO) in 2001. Under the country's accession protocol， China will automatically transit to a market economy status for Europe by Dec. 11， 2016.


China and Russia pushed on Tuesday for talks to defuse the "confrontational spiral" between the US and North Korea after Kim Jong-Un stepped back from a planned missile strike near Guam.


The North Korean leader said he would wait and see how the United States behaved before deciding whether to execute the planned launch of four missiles over Japan towards the tiny US territory in the Pacific.


Some analysts suggested Kim was opening a possible path to de-escalating tensions Cheap Hydro Flask Hydration 24 oz Standard Mouth Pink , which spiked dramatically with recent bellicose exchanges between US President Donald Trump and Pyongyang.


The North's official KCNA news agency said Kim was briefed on the "plan for an enveloping fire at Guam" during an inspection on Monday of the Strategic Force command in charge of the nuclear-armed state's missile units.


But it said Kim would "watch a little more the foolish and stupid conduct of the Yankees" before executing any order.


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His remarks prompted joy in Guam Cheap Hydro Flask Hydration 32 oz Wide Mouth Green , where officials described themselves as "almost ecstatic that Kim Jong-Un has backed off".


China said Tuesday that the North Korean nuclear crisis had reached a "turning point" and