China ready to cooperate with EU on global economic imbalances

China: China is the world's second-largest economy and a key participant in global trade, finance, and economic governance discussions. Its Finance Minister Lan Foan met with EU officials in Bangkok to express readiness for dialogue on improving communication regarding global economic governance and macro policy coordination. Lan emphasized that global imbalances represent a complex structural issue increasingly shaped by geopolitics and protectionism, calling for comprehensive views and coordinated macroeconomic policies. Lan Foan: Lan Foan is China's Finance Minister responsible for overseeing national fiscal policy and international economic engagements. He conveyed China's willingness to cooperate with the EU on addressing global imbalances during a meeting with bloc officials in Bangkok, highlighting the need for open cooperation and objective assessment of structural economic issues influenced by non-economic factors. European Union: The European Union is a political and economic union of member states that coordinates policies on trade, economy, and monetary affairs across the bloc. It engaged with China through a meeting in Bangkok involving key officials to discuss global imbalances and macro policy coordination. The discussions follow a recent bilateral deal on limiting certain Chinese exports to the EU amid ongoing trade deficit concerns. Christine Lagarde: Christine Lagarde is the president of the European Central Bank, leading the institution responsible for monetary policy in the euro area. She attended the Bangkok discussions with Chinese officials on global imbalances and macro policy coordination as part of broader EU-China engagement on economic governance. Valdis Dombrovskis: Valdis Dombrovskis serves as the EU's economy and productivity commissioner, focusing on economic policy coordination within the bloc. He participated in the Bangkok meeting with China's Finance Minister to discuss global economic governance, macro policy alignment, and related trade matters between the EU and China. Kyriakos Pierrakakis: Kyriakos Pierrakakis is the president of the Eurogroup, coordinating economic and fiscal policies among eurozone finance ministers. He joined the meeting with China's Finance Minister in Bangkok to address global economic imbalances and foster dialogue on macroeconomic policy coordination with the EU. Export Controls: China proposed adding technologies across the artificial intelligence, biomedicine, and photovoltaic sectors to its catalogue of technologies prohibited or restricted from export. Trade Relations: China and the European Union recently reached a deal to limit Chinese exports of hybrid cars to the bloc.