China Says Exports Slowing, EU To Launch Investigation

China's trade minister says that the pace of textile imports in the EU from China is starting to slow. The European Union has increased the pressure on China to do so before it has to "take action". "Europe cannot stand by and simply watch these developments unfold. The time has come to take further action," said EU commissioner Peter Mandelson. "I urge China to take a fresh look at the measures they have put in place already, and explore whether they cannot do more." The European Commission is said to be launching an investigation within the next 150 days into what further action can be taken on China's end. The investigation is expected to last no more than 60 days. "China is very aware of the importance of this issue for France and the European Union," said Chinese trade minister Bo Xilai "We believe solutions can be found." Asia Times Murdok. Visit Murdok for the