Table of Contents
Why is China important to the EU?
Trade. The EU is China’s largest trading partner, and in 2020, China overtook the US in becoming the EU’s largest trade partner. Most of this trade is in industrial and manufactured goods. Between 2009 and 2010 alone EU exports to China increased by 38\% and China’s exports to the EU increased by 31\%.
What are the goals of the Belt and Road Initiative?
China’s Belt and Road Initiative (BRI) (一带一路) is a strategy initiated by the People’s Republic of China that seeks to connect Asia with Africa and Europe via land and maritime networks with the aim of improving regional integration, increasing trade and stimulating economic growth.
What did China and Europe trade?
The Europeans of course were not shipping the silver to China as an act of donation or charity. They were getting goods in return, such as silk, porcelain, and later especially tea. Instead, we see massive foreign trade, which was attested to by all the silver coming in.
How does China benefit from the belt and road?
Through the rapid expansion of its demand for imports, China propels economic growth in the B&R countries that export goods to China. Under the cooperation framework of the Belt and Road Initiative, China supports developing countries such as those in Asia, Africa and Latin America to invest more in infrastructure.
What is the EU doing to improve trade relations with China?
The EU is committed to open trading relations with China. However, the EU wants to ensure that China trades fairly, respects intellectual property rights and meets its obligations as a member of the World Trade Organization (WTO). In 2013 the EU and China launched negotiations for an Investment Agreement.
What is the belt and Road initiative of China?
Belt and Road Initiative. China’s Belt and Road Initiative (BRI) (一带一路) is an ambitious programme to connect Asia with Africa and Europe via land and maritime networks along six corridors with the aim of improving regional integration, increasing trade and stimulating economic growth.
Is there a solution to the US-China trade conflict?
However, a solution to the US-China trade conflict that artificially increases Chinese imports from the US can only hurt European exporters. A much broader and structural deal which pushes China to reform and open up would not only be beneficial for the US but also for the EU and the rest of the world.
What is the relationship like between China and the European Union?
The European Union and China are two of the biggest traders in the world. China is now the EU’s second-biggest trading partner behind the United States and the EU is China’s biggest trading partner. The EU is committed to open trading relations with China.