XI calls on EU strategic action in times of global trade unconcursions

XI calls on EU strategic action in times of global trade unconcursions

The Chinese state leader XI Jinping said the leading guide of the European Union at an important summit in Beijing that Europe should make “the right strategic decision” and strengthen cooperation with China to promote global “stability”. This appeal is carried out at a time when symptoms are discussed on both sides.

expectations of the summit

XI met Ursula von der Leyen on Thursday morning with the President of the European Council, Antonio Costa, and the President of the European Commission. The European leaders are in Beijing to a summit that is considered tense. The reason for this are the growing tensions and distrust between the two sides, in particular due to the enormous trade weight, China's persistent support for Russia in the Ukraine conflict and the control of China via the supply chain.

retail weight and diplomatic challenges

from the Leyen found that the economic relations of the EU to China had achieved a trade deficit of 300 billion euros last year. She explained: "With the deepening of our cooperation, the imbalances have also intensified. It is crucial that we are newly balanced our bilateral relationship ... It is important that China and Europe acknowledge our respective concerns and make progress with real solutions."

The summit, which was originally set to two days, was reduced to a one -day event and was to serve as a celebration of 50 years of diplomatic relationships between Beijing and the EU. However, expectations of the talks are low and they should reveal the growing gap between the two sides. Several months earlier, both sides had hoped for improvement in relationships while facing global trade under US President Trump.

strategic vision and responsibility

In the large hall of the people, XI said to Costa and the Leyen that the current challenges of Europe come "not from China" and that there are "no fundamental conflicts of interest or geopolitical contradictions" between Beijing and the EU. He emphasized: "In view of the accelerated changes that we have not seen for a century, China and the EU have to show strategic vision and responsibility again and make the right strategic decisions that meet the expectations of people and face the test of history."

growing tensions

The EU has not shyly showed to express its concerns about the summit. In the past few weeks, officials have repeatedly pointed out the flood of cheap Chinese goods that flood the European markets, as well as China's efforts to control the supply chain less frequently and its constant support for Russia in the Ukraine conflict. Beijing reacted to these concerns with sharp words, including the response to the increase in the EU tariffs to Chinese electric vehicles.

On Monday, the Chinese Ministry of Commerce criticized the EU's decision, two Chinese banks and several other companies in the latest sanctions against Russia. Beijing claimed that this step would have "harmful effects on economic and trade -related relationships between China and the EU". In addition, there were diplomatic protests by China's Minister of Commerce Wang Wentao in a video call with the commissioner of the EU.

Effects of the trade wars

Trump's trade wars and his negotiations with both great powers also contribute to the tense atmosphere of the summit. There was signs that Beijing hoped that the common need to position itself against the US tariff threats could bring closer to China and Europe. Nevertheless, in the past few weeks in separate speeches to the G7 leaders and European MPs made it clear that the EU's deep concerns remain unsolved towards Beijing.

she noticed: "China not only uses this quasi-monopoly (on rare earth) as a means of pressure, but also uses it to damage competitors in key industries." Beijing has comprehensive control over the supply chains of these critical minerals, which are essential for everything from electric vehicle batteries to fighter jet technology. The global manufacturing industry was significantly shaken after China introduced export controls to some of these minerals in April. China had relaxed these controls in a ceasefire with the United States in June.

from the Leyen also called for united G7 measures to put Beijing under pressure, while it continues to flood the global markets with subsidized overcapacity that its own market cannot absorb. ”