There is much that unites China and Europe. Whilst Donald Trump’s isolated, “America First” strategy has hurt countries economically, it has created possibilities to strengthen and build new relationships. China and the European Union’s (EU) is one relationship that has matured greatly over the last few years. Trade now averages at over €1 billion a day, and both see eye to eye on a range of issues, from climate change to multilateralism, free trade to reform in the World Trade Organisation. “Solid Foundation, Enormous Potential and Bright Prospects” Chinese Premier Li Keqiang successful visit last week to Europe, where he visited Belgium, the Netherlands, the latter which signed trade deals reaching US$10 billion and the Asia-Europe Meeting (ASEM), was another chance to reaffirm the strong values that Europe and China hold. Δ Chinese Premier Li Keqiang (2nd L) arrives in Brussels, Belgium, Oct. 16, 2018. (Xinhua/Gao Jie) “Cooperation between Asia and Europe has a solid foundation, enormous potential and bright prospects,” said Premier Li in his speech at the ASEM summit. On multilateralism, Premier Li spoke of Europe and Asia’s joint responsibility to “lead the way” in keeping multilateral institutions alive, as well as adhering to and reviewing a rules-based system, such as those offered by the World Trade Organization (WTO). In the Netherlands, Li’s keynote speech at the business forum […]
The policies implemented by Chinese President Xi Jinping, Premier Li Keqiang and the State Council, have given China a key role in this new world order.
Whilst the forum and subsequent parallel bilateral talks showed that political and economic progress has evolved well over the last few years, logistics and infrastructure need more investment for the countries to reach their full potential.
President Xi used the speech to reaffirm the “China-Africa big family”.
The program of “Access to Satellite TV for 10,000 African Villages”, as the cultural cooperation and people-to-people exchange project, part of “ten major cooperation projects”, aims to make it possible for 10,000 rural areas in Africa to receive TV broadcasting signals, so as to enrich the cultural life of local people and enhance China-Africa connections.
African people know better than anyone else what colonialism is because they have been struggling against colonialism for five hundred years. China will not repeat that approach.
A China-U.S. trade war looks imminent after the U.S. administration announced on June 15 plans to impose additional tariffs of 25 percent on $50 billion of Chinese goods, with the Chinese Government responding with reciprocal tariffs.
The year 2018 is the 40th anniversary of China’s reform and opening-up and also a crucial year for economic structural transformation.
The trade imbalance between China and the United States is becoming a tool for Washington to pursue its “America First” objective. Is the trade imbalance really unfair to the United States? Is it fair to judge the trade relationship simply on the basis of surplus or deficit?
According to a reporter from Forbes on September 12, “A global power shift in the technology sector is underway… China has moved from imitator to innovator, and in the new era of fintech, biotech and machine learning, I expect it to take a global leading role.”