British Chancellor of the Exchequer Rachel Reeves has issued a robust defense of UK-China economic collaboration, dismissing suggestions of disengagement as "very foolish" during an interview with The Telegraph. Her remarks come ahead of a planned visit to Washington, underscoring the UK government's focus on strengthening global financial partnerships.
Reeves emphasized China's role as the world's second-largest economy, stating: "It would be very foolish to not engage. That's the approach of this government." She highlighted her participation in the 11th China-UK Economic and Financial Dialogue earlier this year, where major British firms including HSBC and Standard Chartered secured expanded operational licenses in China – a deal valued at £600 million ($795.93 million).
The chancellor also expressed support for Chinese fast-fashion giant Shein's potential London Stock Exchange listing and endorsed Chinese electric vehicle manufacturers, addressing concerns about data security by affirming her willingness to use such vehicles personally.
Analysts view Reeves' stance as aligning with Prime Minister Keir Starmer' s strategy to deepen cross-border financial ties. The approach reflects broader European efforts to balance economic pragmatism with geopolitical considerations in Asia relations.
