Watch as China Moves in on the Trump Weakened European Union
Chinese Premier Li Keqiang’s upcoming visit to Germany and Belgium will enhance diplomatic relations with the 2 countries, and further benefit Europe.
Li’s visit is among the increased high-level exchanges between China and Europe in recent years as the 2 sides are cementing ever-closer bi-lateral relations.
China established diplomatic relations with the European Economic Community (EEC), a precursor to the EU in Y 1975, and the 2 sides have developed good relations over the 42 years, fostering friendship and trust.
The EU is China’s biggest trading partner, while China is the EU’s 2nd biggest, following a dramatic increase in trade in recent years that come along with wealth, jobs, development and innovation for both sides.
China-Europe relations, one of the most important bi-lateral relations in the world, are not always smooth sailing, but have also experienced twists and turns as challenges happened.
Since Y 2009, certain countries in Europe have been suffering from blows of the Eurozone debt crisis, refugee flows, and terrorist attacks, which led to the rise of populism and political conservatism.
Economic protectionism has emerged, which resulted in mounting EU anti-dumping and anti-subsidy investigations against Chinese products.
These dilemmas complicate China-Europe relations, especially at a time of global economic upheaval.
But the 2 sides know that the partnership is essential in an unstable world: Trust and Cooperation are the only ways out.
China’s development provides an enormous opportunity for Europe.
Bi-lateral trade managed to reach a new high in Y 2016, overcoming global downturn. Trade value reached $525-B in Y 2016, an increase of 3%.
In an increasingly interconnected and interdependent world, the 2 powers have reached a stage that what happens at home also affects global politics and economics.
So, China will continue to support European integration, and more development opportunities will emerge.
Yet they can and they will do more to further China-EU cooperation, seeking common points while reserving difference.
International relations are not a Zero-sum game, as China has repeatedly shown in its partnerships with Europe.
With joint efforts, China and Europe will further galvanize their own growth, and more importantly, enhance their coordination in global issues including better safeguard free and fair trade so as to set an example of healthy bi-lateral relationship to the world.
It is worth noticing that protectionism harms everyone. So, China and Europe should work together to unlock their potential, fend off protectionism and re-energize world economy.
Stay tuned…as China comes to the rescue of the EU.
Latest posts by Paul Ebeling (see all)
- Ford V Ferrari is the Most Important Film for Fox’s Future With Disney - August 21, 2019
- A Divided FOMC Walking ‘The Trump Tightrope’ - August 21, 2019
- The Pressure is on the Fed to Cut Rates - August 21, 2019