China draws 'red lines' around its state-led economic model ahead of trade talks with the EU and US
China has signalled 'red lines' it will not cross in defending its state-led economic model as it heads into fresh trade negotiations with the European Union and the United States, according to a Reuters analysis. Beijing is resisting Western demands to curb industrial subsidies and rein in export-driven overcapacity, framing them as attempts to contain its development. The stance sets up difficult talks over tariffs, market access and green-technology exports.