Commissioner Phil Hogan will be visiting China in May 2018, accompanied by a business delegation of senior representatives from the European agri-food sector. The purpose of this visit is facilitating exchange and agreements between European and Chinese businesses active in the agri-food sector, while building on and profiting from existing presence of European agri-food products on the Chinese market. China was the second largest importer of EU agricultural and processed agricultural products in 2016, receiving 8.7% of all EU agricultural exports.
What’s been the main economic effect of globalization? Many will point to lower consumer prices as one of its most tangible consequence. The gradual reduction in barriers to trade and investment over the past decades have opened up markets for more competition, and just as economic theory holds, the effects on production scale and specialization have been visible everywhere. While critics argue that the liberalization of trade have had unwanted effects, few challenge the notion that it has given consumers “more bang for the buck”.