The geopolitical battle between China and the United States has escalated, and US President-elect Joe Biden suspected the first attempt to stop China from wooing the EU. Although the EU reportedly agreed to “in principle” the China-EU Comprehensive Investment Agreement with China last week, the two sides are expected to formally sign it before the end of this year. However, Jake Sullivan, who was nominated as a national security adviser in Biden’s ruling team, put pressure on the EU, implying that the EU should suspend its investment agreement with China and first negotiate with the United States on China’s economic issues.
In addition, according to U.S. media Politico quoting a person familiar with the negotiations, the meeting between EU Trade Commissioner Valdis Dombrovskis and Chinese Vice Premier Liu He was postponed on the morning of the 22nd local time. When the representatives of the EU member states met on the afternoon of the 22nd local time, they also cancelled the discussion on the China-EU investment agreement.
Sullivan: The United States and Europe first talk about common concerns
Sullivan said on Twitter on Monday, “Considering China’s economic habits, the Biden He Jinli government welcomes our European partners to conduct preliminary discussions on projects that we share concerns.”
Bloomberg quoted Mikko Huotari, director of the German think tank Mercator Institute for China (MERICS), as saying that the EU hopes that the Comprehensive Investment Agreement will open up the Chinese market and eliminate discriminatory practices, but critics say that China suppresses human rights in Hong Kong and Xinjiang and encourages Beijing has priority to enter the European market. The China-EU agreement has won China a “symbolic victory,” and it has also made it increasingly difficult for Europe to establish a transatlantic alliance to deal with China.
Meeting with EU envoy Wang Yi: China-EU investment agreement is expected to reach agreement
The China-EU Investment Agreement may be signed to expand the “friend circle” to resist the US siege
In the EU-China Investment Agreement, China agreed to allow EU companies to open more markets, including financial services, manufacturing, and real estate, while the EU relaxed restrictions on China’s investment in the renewable energy market. However, China refuses to comply with the labor rights stipulated by the International Labor Organization (ILO), and some European countries are dissatisfied with China’s human rights issues, so the agreement may still have variables.
The EU-China Investment Agreement has been negotiated for a total of 35 rounds in seven years. German and EU officials stated earlier that the EU and China’s goal is to reach the China-EU Comprehensive Investment Agreement by the end of 2020. Chinese Foreign Minister Wang Yi pointed out in a collective meeting with the EU and the envoys of the 27 member states in Beijing on the 21st that China has become the EU’s largest trading partner for the first time this year. The two sides formally signed the China-EU Geographical Indications Agreement. The China-EU Investment Agreement is expected to reach agreement. Decided to establish two high-level dialogue mechanisms, green and digital.
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