EU-China tensions and impact on European investment agreements

Flags of the European Union (left) and China.

Nelson Chin | Bloomberg | Getty Images

Former White House top trade negotiator Clete Willems said he made a “major strategic failure” when China retaliated against Europe by imposing sanctions on EU politicians.

Beijing’s actions have killed a major investment deal between the European Union and China, and the deal is “currently out of negotiation,” Willems told CNBC on Monday.

In March, China imposed sanctions on 10 European Union politicians and four other groupsThey are in immediate retaliation for sanctions, EU imposes “ararar intentional detention” on China A member of the Chinese minority.

The Xinjiang Uygur Autonomous Region in northwestern China is home to a Muslim group known as Uighurs, identified by the United Nations and other agencies as a repressed ethnic group. USA, UK, Canada China said it was engaged in “forced labor, mass detention in internment camps, forced sterilization” and other abuses against Uighurs.

China has repeatedly dismissed these claims. “Lies and disinformation”.

Is European Parliament suspended ratification of new investment agreement last month With China until Beijing lifts sanctions on the EU.

Willems, a former deputy director of the National Economic Council, told CNBC’s Street Signs Asia that “China has gone too far and overreacted and is not addressing legitimate issues such as forced labor. I have. ” He is currently a partner at law firm Akin Gump.

There is still a long way to go. And we need to see Europe continue to be more muscular.

Cleat Willems

Partner, Aikin Gamp

A comprehensive EU-China investment agreement is underway for seven years and will eventually Agreed by negotiators in DecemberThis will put EU companies on an equal footing in China and strengthen Beijing’s position as a credible trading partner. It will also give each party’s business greater access to the other’s market.

“But the problem America has always had with Europe is its high reliance on China as an export market, and the question is how tough they really are.” Willems pointed out.

The EU Parliament “is demanding that sanctions be lifted before China can deal with it. [the investment accord]”, It Said in the resolution, Not legally binding, but is currently the official view of Congress. “The relationship between the EU and China may not continue as usual,” the EU Parliament said.

But Willems said Europe needs to take a stricter stance on China.

“I think we’ve seen some positive signs, but I think our allies are putting pressure on China to change their practices … we’re still a long way to go. Europe continues It’s muscular. ”

EU-China tensions and impact on European investment agreements

Source link EU-China tensions and impact on European investment agreements

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