Business Brief (July 7): EU Claims Overcapacity Amid Chinese AC Boom

EU Reiterates Overcapacity Claims Amid Chinese Air-Conditioner Boom

As Chinese cooling products like air conditioners gain popularity among European consumers, the European Union reiterated claims of a massive influx of Chinese products into Europe fueled by overcapacity. In response, China’s foreign ministry urged relevant European parties to view China-EU economic and trade relations objectively, abandon a zero-sum mentality and work together to enlarge the pie of mutual benefit.