TOP

'China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await'

'China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await''China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await'
Book
Interview
'

'

|

|
EU-China Investment Agreement
2
Interview

|

|
EU-China Investment Agreement
2

EU-China Investment Agreement

2

Biden & the EU-China Investment Agreement

‘China appeared eager to reach an agreement before Mr. Biden takes office in January, calculating that closer economic ties with the Europeans could forestall efforts by the new administration to come up with an allied strategy for challenging China’s trade practices and other policies.’

‘Political opposition in Europe and Washington could ultimately derail the landmark an investment agreement between China and the European Union, the “Comprehensive Agreement on Investment.” ’

‘A large faction in the European Parliament, which must ratify the agreement before it can take effect, opposes the accord on the grounds that it does not do enough to stop human rights abuses in China.’

  • ‘ “Public opinion was very disillusioned with the Chinese regime,” because of Hong Kong and the pandemic, said Philippe Le Corre, a research fellow at the Harvard Kennedy School who tracks Chinese investment in Europe.’
  • ‘ “And now we have this deal, which is mainly designed to please a handful of German multinational companies.” ’
  • ‘The opponents may be able to muster enough votes to block ratification in the European Parliament.’

‘In addition, a top aide to President-elect Joseph R. Biden Jr. has signaled that the incoming administration is not happy with the deal.’

  • ‘Mr. Biden, in a speech on Monday, said that on any issue that mattered to the U.S.-China relationship, the United States was “stronger and more effective when we are flanked by nations that share our vision for the future of the world.” ’
  • ‘The Europeans’ decision to overlook objections from the Biden camp was an indication that relations with the United States will not automatically snap back to the relative bonhomie that prevailed during the Obama administration.’
  • ‘European diplomats said this week that while they hoped for a more cooperative relationship with the Biden administration, they could not subordinate their interests to the U.S. election cycle.’

‘Negotiators for China and the European Union had been working on a deal for almost seven years, but progress accelerated suddenly after Mr. Biden defeated Mr. Trump in the election.’

  • ‘Unlike Mr. Trump, who has often been hostile to Europe, Mr. Biden is expected to try to cooperate with the European Union to rein in Chinese ambitions, but those efforts could take many months to materialize.’
  • ‘China appeared eager to reach an agreement before Mr. Biden takes office in January, calculating that closer economic ties with the Europeans could forestall efforts by the new administration to come up with an allied strategy for challenging China’s trade practices and other policies.’
Go to
In-Depth