- 04 Jan 2021 20:57
#15146310
The timing was important. The EU got the best possible deal from the Chinese, who wanted the deal signed before Biden takes over the US presidency.
Even with the deal signed, the EU can still cooperate with the US for a common approach towards China. The difference will be that the EU won't just have to follow the US lead since it already has an extensive agreement with China. Trump has taught Europe that it can't rely on the US and that the EU has to find its own way.
The EU's advanced trade deals will increasingly include environmental issues and labor standards since they directly impact on trade and competitiveness; however, the EU can not and should not play the world's policeman for enforcing human rights.
Increased access to the Chinese market is very important. More than that, there is an awareness that there should be a strict reciprocity. Any new market barriers imposed by the Chinese should be immediately reciprocated by barriers to Chinese companies in Europe.
Europe should not try to impose its values on China, but the EU should enforce a rules-based regime in its dealing with the Chinese. If we want to have close relations with each other, both sides have to respect mutually aggreged rules.
It is possible to compete with China on a commercial basis. The worry ought to be that the US will focus on military competition in order to defend its hegemony. Europe has an interest not to be drawn into any US-China conflict.
Even with the deal signed, the EU can still cooperate with the US for a common approach towards China. The difference will be that the EU won't just have to follow the US lead since it already has an extensive agreement with China. Trump has taught Europe that it can't rely on the US and that the EU has to find its own way.
The EU's advanced trade deals will increasingly include environmental issues and labor standards since they directly impact on trade and competitiveness; however, the EU can not and should not play the world's policeman for enforcing human rights.
Increased access to the Chinese market is very important. More than that, there is an awareness that there should be a strict reciprocity. Any new market barriers imposed by the Chinese should be immediately reciprocated by barriers to Chinese companies in Europe.
Europe should not try to impose its values on China, but the EU should enforce a rules-based regime in its dealing with the Chinese. If we want to have close relations with each other, both sides have to respect mutually aggreged rules.
It is possible to compete with China on a commercial basis. The worry ought to be that the US will focus on military competition in order to defend its hegemony. Europe has an interest not to be drawn into any US-China conflict.