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These words of Chinese Prime Minister Li Keqiang determine Beijing’s policy towards Europe, indicating that the European market (in 2018, China became the EU’s second largest trading partner with a bilateral trade volume of 603.9 billion euros) is the ultimate goal of Chinese project “One Belt – One Way”.
In April, the 11th EU-China Summit was held, which many view as an escalation of the war for European markets between China and the USA. Such a scenario is confirmed by the statements of high-ranking politicians of the two countries. In February, the US ambassador to the EU called on Europe to be friends against China. During the summit, China’s Prime Minister Li Keqiang offered to work “together with the EU”, which can be interpreted as an alliance “as opposed to the United States”.
During the talks, the parties stated that they “undertake to build their economic relations on the principles of openness, non-discrimination and fair competition, ensuring equal conditions, transparency and mutual benefits”. According to the results of the summit, the European Union and China intend to conclude a comprehensive investment agreement in 2020, which was announced in a joint final statement.
Now we can definitely say that Europe has finally ceased to perceive China as a secondary partner. And it is very similar to the fact that Beijing can seriously press Washington on the European economic sites. And Europe has made it clear that it is ready to turn its face to China if Beijing holds out the long-promised market reforms and stops creating competitive advantages for its business over Europeans. And even Twitter of the American president, who threatened to impose duties on goods worth 11 billion dollars a year for the European business, could not affect the success of the negotiations.
The closest relations developed between China and the countries of Central and Eastern Europe, the “16 + 1” initiative was formed (Albania, Bulgaria, Bosnia and Herzegovina, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia, Croatia, Montenegro , Czech Republic, Estonia). Trade with these countries grew by 21% and reached 82.23 billion dollars last year. One of the latest projects of China in the framework of the “16 + 1” initiative is the creation of the Interbank Association of China and the states of Central and Eastern Europe to finance major strategic projects in the region. Only at the first stage of this program, the China Development Bank has promised to provide € 2 billion to the countries of Eastern and Central Europe.
To one degree or another, China has long been cooperating with other European states. Beijing has successful investment projects with Italy, Greece, France and Germany.
China invests in the development of infrastructure and high-tech projects in Europe, thereby strengthening the value of the yuan as an international currency, and in the area of humanitarian exchanges it uses tools of soft power. And Brussels quite clearly demonstrates that it is ready to count yuan with the same joy as dollars.
As for the United States, Washington considers the “One Belt – One Way” project as China’s plan to expand global economic and political influence to challenge America’s world order. And in this they are absolutely right.
It’s not at all clear how Washington is going to fight the political rift in its key political alliance. Europe clearly indicated its intention to develop economic ties with China.
Does this mean a threat to the USA as a world leader, and to the dollar as the main currency? Possible and most likely – yes.
Authorship: Vitaliy Timoschuk
Source: WolneMedia.net
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