China risks to destroy massively the job industry in Europe

From 2017,More than three million jobs in the European Union and around 50 anti-dumping legal cases are at risk if the bloc grants new trade rights to China, a new study says, prompting a major backlash from both industry and trade unions.

As December of 2016 approaches,a date when China will obtain the status of “market economy” to the World Trade Organization (WTO), concerns are growing about the consequences of such a change on the employment in Europe and the United States. A report published on Friday by the Economic Policy Institute (EPI), a Washington-based institute, states that 3,5 million jobs will probably be destroyed in Europe between 2017 and 2020, which is 1,8 % of the total.

The European Union, along with other World Trade Organization (WTO) members, needs to determine whether to accord China “market economy status” (MES) at the end of 2016.