In a significant move to bolster China-European Union relations, Chinese President Xi Jinping welcomed European Commission President Ursula von der Leyen and European Council President Charles Michel to Beijing on December 7. The high-level summit aimed to strengthen mutual trust and cooperation between the two major global economies, addressing a range of bilateral and international issues.
The meeting comes at a pivotal time, following President Xi’s recent talks with U.S. President Joe Biden, signaling China’s commitment to engaging with key global partners. The discussions with EU leaders are seen as an effort to redefine the China-EU relationship in a more collaborative and mutually beneficial manner, moving away from misunderstandings and towards constructive dialogue.
China and the EU share a robust economic partnership, with daily trade in goods amounting to 2.3 billion euros (approximately $2.48 billion). Despite this strong interdependence, challenges have emerged, particularly concerning trade imbalances and differing perspectives on economic policies. The EU’s 2019 designation of China as a “partner, competitor, and systemic rival” led to the implementation of measures such as the foreign investment review mechanism, the foreign subsidy regulation, and the anti-coercion tool. Additionally, the EU’s recent initiative to “de-risk” its supply chains has been met with concern from China.
China has expressed a desire for more equitable treatment and mutual respect in addressing these issues. The summit provided an opportunity for both sides to candidly discuss their differences and seek common ground. By enhancing communication and understanding, China and the EU aim to prevent further tensions and promote a stable, long-term partnership that benefits both economies and contributes to global stability.
High-level exchanges like this summit are crucial in bridging gaps and fostering cooperation on global challenges such as climate change, public health, and economic recovery post-pandemic. For business professionals and investors, strengthened China-EU relations may open up new avenues for trade and investment, while academics and researchers can anticipate more collaborative efforts in innovation and technology.
The ongoing dialogue reflects a shared commitment to navigating complexities in international relations through diplomacy and mutual respect. As China and the EU work towards resolving their differences, the global community watches closely, hopeful for positive outcomes that could enhance economic growth and cultural exchange across continents.
Reference(s):
cgtn.com
