European Parliament will vote today on China today - Rabobank

Elwin de Groot, Senior Eurozone Strategist at Rabobank, notes that the European Parliament will vote today on a non-binding resolution to determine whether the EU should grant China market economy status (MES).

Key Quotes

“This resolution would be input for the Council. Granting MES (a decision that needs to be taken in conjunction with other major WTO economies before 11 December 2016) would give the EU less power to protect its industries. However, European Parliamentarians - during a debate on 10 May - seemed unanimous in their agreement that China hasn’t fulfilled the requirements to be considered a market economy.”