10  See Sterling and Waite (1998). 11  See Barro (2009). BIS central bankers’ speeches  5  over-concentration of a nation’s business activities in particular plants located in a particular region would run a significant risk while its cost of such over-concentration could be hardly internalized by highly competitive markets. As a result, tail risks may be inadvertently elevated.
On a bilateral basis, four summit meetings between the EU and Chinese leaders have been held since 1998. Leaders exchanged views on EU-China relations as well as international and regional issues of common interest, and agreed at the fourth summit in 2001 that the EU and China should continue their efforts to promote stability, peace and development in the world.