Europe: each with advantages and win-win cooperation

Updated: May 22, 2016  Views: 163

Services will be taking over the next round of world trade growth is becoming the consensus of the global market, while the developed economies is clearly more attention to this. In Europe, for example, whether it is 'EU 2020 Strategy' emphasizes smart growth, the European economy is still leading German sheep 'industry 4.0' plans to focus on involving big data, networking and other producer services, have shown that European countries accounted for 70% of GDP of the service sector have high hopes.

So services can deliver the goods, after the debt crisis to pull the European economy to achieve a new round of growth?

There is space market

In the context of the overall downturn in global trade, trade in services is the reason why Europe placed more expectations, Yao Ling, deputy director of the Academy of International Trade and Economic Cooperation Department believes Europe, thanks to two things: First, the structure of the European economy dictates, di trade in services compared to goods trade growth have a broader market space.

She said that an explanation, first of the global division of labor within the European region most developed economies are no longer attached to the development of traditional manufacturing in favor of seeking the development of services and to achieve accelerated development, many countries in the region stand to forefront of the global service trade development, such as the UK, Germany, France, Italy and Belgium are all global service trade development in the more developed countries, of which Britain is good at financial services, specializes in French and Italian design culture, Germany specializes in industrial services, Belgium it has advantages in trade and logistics, financing services.

Secondly, the current downturn in global trade as a whole phase, service trade is also affected by a slowdown in demand. However, since the one hand, compared to trade in goods in the areas of trade mechanisms high degree of freedom, but also by the development of service trade access, open markets and other barriers restricting market liquidity base, which shows its potential for trade in services has not been fully released, which means there is more room for growth late. on the other hand, for Europe, developing economies for manufacturing control has reached a certain level, the European countries is difficult to find the 'large' market share, by contrast, the services market in developing economies but is 'Blue Ocean', advanced technology services and experience can be found in most of Europe 'useless.' more importantly, not only is the development of market economies among the developed market economies, but also because of market access, industry barriers and other obstacles, there is a lot of untapped market of service trade cooperation.

According to Eurostat website data, from 2010 to 2014, five years, the EU trade in services increased significantly, exports from the 568.7 billion euros up 29 percent to 734.8 billion euros from foreign imports from 458 billion euros up 27 percent , reaching 583.4 billion euros, the EU surplus in services continued to rise. United States, Switzerland, China, Russia and Japan is the EU's main trading partners and services. in 2014, EU exports to the US 193.6 billion euros, accounting for 26% of total EU exports, Switzerland exports of 103.5 billion euros, accounting for 14% of Chinese exports 31.73 billion euros, accounting for 4.3%.

What obstacles

Yao Ling pointed out that in this context, Europe will naturally more 'promising' service trade is seen as an important force in the post-crisis era stimulating economic growth in Europe in recent years and this launch various types of development strategies and their conduct external promotion of cooperation are reflected.

Yao Ling said, 'EU 2020 Strategy' committed to smart growth, inclusive growth and sustainable growth in the smart growth of this chapter, the 'EU 2020 Strategy' made it clear that transport, telecommunications, financial, business and professional services are global manufacturing supply chain integral part of the future of the European Union will take all possible means, to the major developed and emerging economies, business partners for wider liberalization of the market and make it between these countries into the EU in the field of investment services the degree of openness, etc. will also be in the financial, postal and telecommunications services sector continues to drive the EU member States and neighboring countries form an integrated market. 'Juncker investment plan' to eliminate the infrastructure sector and the service sector administrative and non-administrative barriers set up a special thread, as the European economy 'leader' in Germany, but also its 'industry 4.0' program, around big data, networking and other topics, emphasizing promote productive service industry.

However, although Europe is quite basic and ambitions on the development of services, but if desired services become a driving force of the European economy a new growth engine, there are some objective constraints factors need attention.

For example, Yao bell service trade barriers mentioned. She said that among the developed economies, between developed economies and developing economies, as soon as possible to eliminate access, and opening up services trade barriers, services trade development potential can be fully released worldwide.

For example, it casts Beijing Technology and Business University World Economy Research Center director Ji said that the European countries are facing problems of negative population growth and the aging population problem, which would severely hinder European innovation and dampen growth demand services. However, this has not so far Europe good solution. Ji Zhu personal recommendation, the European digital economy might consider shortening the development stage, as soon as the transition to a smart economy, the establishment of efficient, harmonious and sustainable basic coordinates to physical devices, computer networks, the wisdom of the human brain as the basic framework , smart government, smart economy, smart society as the basic content of economic structure, growth and economic patterns, population aging eliminate the underlying problems caused by obstacles to development.


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