Spanish PM Sanchez has clearly decided Europe needs to accomodate Chinese power.
Goldman's modelling, does, however suggests Spain's economy is also being slowed down by China shock 2.0.
Overall strong Spanish growth obscuring that pain, and clouding the PMs judgement.
@sandertordoir.bsky.socialThe FT headline isn't quite right.
It was always clear EU Leads would give guidance today to the Commission to work on a pla to bolster trade defences over the summer, and prep for Chinese retaliation.
It's not a real delay, in that sense. But there's a risk.
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www.ft.com/content/e220...
ft.com
EU delays trade confrontation with China
Leaders opt for dialogue with Beijing rather than immediate action over fears of retaliation
