Post by account_disabled on Feb 20, 2024 8:34:27 GMT
Relations between China and the EU are "at a crossroads" and the two sides could "drift apart" due to Beijing's support for Russia over Ukraine and "discriminatory" trade rules, one of Brussels' top officials has warned. Valdis Dombrovskis told an audience in Beijing that China must change its ways or lose EU investment and trade in his starkest assessment yet of tensions between them. The European Commission's executive vice-president, responsible for trade and economy, called on future Chinese leaders at the elite Tsinghua University to prioritize openness, after new laws have made it difficult for international companies to operate there. “We are at a crossroads. We can choose a path toward mutually beneficial relationships. One that is based on open and fair trade and investment, and that works hand in hand on the great challenges of our time,” said Dombrovskis. “Or we can choose a path that takes us slowly away.
Where the shared benefits we have enjoyed in recent decades weaken and fade. And, as a result, our people and our economies face reduced opportunities.” He noted that China's economic success Job Function Email Database was based on globalization, and EU consumers bought the goods that lifted hundreds of millions of people out of poverty. “The will to open up and reform supported growth, development, employment and prosperity, based on global commitment.” But the Latvian warned that “both the EU and China face significant political and economic obstacles. And some of these headwinds may cause us to drift apart.” The strongest was China's failure to condemn Russia for invading Ukraine. Beijing supports the territorial integrity of states "so it is very difficult for us to understand China's stance on Russia's war against Ukraine, as it violates China's own fundamental principles," Dombrovskis said.
It was also affecting the country's image, “not only among European consumers but also among businesses”, with a third of EU companies in China saying it made them less likely to continue investing. Many were already “questioning their position in this country” due to a “more politicized business environment,” he said. “This has resulted in less transparency, unequal access to hiring, discriminatory security standards and requirements, and data localization and transfer requirements.” He mentioned the new Foreign Relations Law and the updated Anti-Espionage Law as examples. “Its ambiguity leaves too much room for interpretation. This means that European companies are struggling to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China.” He rejected Chinese accusations that the EU had become more protectionist and said it had to be “forced to become more assertive” because of unfair competition and security threats from China.
Where the shared benefits we have enjoyed in recent decades weaken and fade. And, as a result, our people and our economies face reduced opportunities.” He noted that China's economic success Job Function Email Database was based on globalization, and EU consumers bought the goods that lifted hundreds of millions of people out of poverty. “The will to open up and reform supported growth, development, employment and prosperity, based on global commitment.” But the Latvian warned that “both the EU and China face significant political and economic obstacles. And some of these headwinds may cause us to drift apart.” The strongest was China's failure to condemn Russia for invading Ukraine. Beijing supports the territorial integrity of states "so it is very difficult for us to understand China's stance on Russia's war against Ukraine, as it violates China's own fundamental principles," Dombrovskis said.
It was also affecting the country's image, “not only among European consumers but also among businesses”, with a third of EU companies in China saying it made them less likely to continue investing. Many were already “questioning their position in this country” due to a “more politicized business environment,” he said. “This has resulted in less transparency, unequal access to hiring, discriminatory security standards and requirements, and data localization and transfer requirements.” He mentioned the new Foreign Relations Law and the updated Anti-Espionage Law as examples. “Its ambiguity leaves too much room for interpretation. This means that European companies are struggling to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China.” He rejected Chinese accusations that the EU had become more protectionist and said it had to be “forced to become more assertive” because of unfair competition and security threats from China.