Brussels must, however, protect itself as trade with Beijing is “very unbalanced,” Valdis Dombrovskis has said The EU will not cut economic ties with China – one of its biggest trade partners – but needs to protect itself, the European Commission’s executive vice president said on Saturday, addressing the annual Bund Summit in Shanghai.

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The latest US decision to not extend the general license waiver that allows Russia to make sovereign debt payments is an attempt to force the sanctions-hit nation into an “artificial default,” according to Kyle Shostak, the director & CEO at Navigator Principal Investors.