XI Jinping calls for EU strategic decisions in the trade crisis

XI Jinping calls for EU strategic decisions in the trade crisis

The Chinese state leader XI Jinping has informed the leaders of the European Union present in Beijing that Europe should make the "right strategic decision" and strengthen cooperation with China for global "stability". This happened during a key summit in which both sides want to address deeply rooted grievances.

conversations between XI Jinping and EU leadership

XI met on Thursday morning with the President of the European Council, Antonio Costa, and the President of the European Commission, Ursula von der Leyen, reported China's state television CCTV. The European leaders are in Beijing to take part in a summit that will be as expected to be conflict, and this in a time growing tensions and distrust between the two sides. The background is the big commodity weight, China's persistent support for Russia in the Ukraine War and recently also Beijing's control over the supply chain.

Europe's economic concerns

from the Leyen emphasized XI that the economic relationships of the EU to China had reached a trade deficit of 300 billion euros ($ 350 billion) last year and had crossed a “turning point”. "The more our cooperation has grown, the more imbalances have arisen," she said. "A realignment of our bilateral relationships is essential ... It is crucial that China and Europe recognize the respective concerns and present real solutions."

expectations and challenges of the summit

The summit, which was originally set to two days, was shortened to a single day, and the 50th anniversary of diplomatic relationships between Beijing and the EU is officially celebrated. However, expectations are low, and rather it is expected that the summit will demonstrate the smoldering gap between the two sides-although both only a few months ago hopes for a reorientation of their relationships when they stood up to the global customs war of US President Donald Trump.

China's view of the challenges

XI said that the current challenges with which Europe was confronted would not come from China and that there were "no fundamental conflicts of interest or geopolitical contradictions" between Beijing and the EU, according to the Chinese Ministry of Foreign Affairs. "In view of the accelerated changes that we have not seen for a century and the turbulent international landscape, the leaders of China and the EU have to demonstrate strategic thinking and responsibility again," said XI.

Expansion of the gap between China and the EU

The EU was not afraid to express its concerns in the run -up to the summit. In the past few weeks, official bodies have repeatedly expressed concerns about the difference between cheap Chinese products that "flood the European markets", as well as China's access to rare earths and its ongoing support for Russia in the war in Ukraine. Beijing reacted with sharp criticism, especially after the announcement that the EU has raised the tariffs to Chinese electric vehicles.

effects of the sanctions

After the EU announced last month that it excluded Chinese companies from participating in public tenders for medical equipment above a certain value, Beijing reacted with its own restrictions on the procurement of European products. China's Ministry of Commerce criticized the EU's decision to include two Chinese banks and some other companies in the last sanctions against Russia, and said that this step would have "serious negative effects on the economic and trade relationships between China and the EU".

conclusion and outlook

The trade routes and the geopolitical tensions overlap the summit and throw a long shadow on the negotiations. In the past few months, the summit has signaled that despite the challenges that have arisen from the US customs policy and Covid 19 pandemic, the differences between China and the EU are still unsolved. Both China and the EU now have to rethink their strategies to make a more stable and productive future.