British media: Europe accelerates to deepen economic relations with China

2022-11-16

On November 12, the website of the British Times published an article entitled "Europe Chooses One Party in the New Cold War - China", written by Matthew Lynn. The excerpt of the full text is as follows: With the rapid deterioration of relations between the West and China, many economies will have to make choices. The United States has imposed another round of severe technical sanctions on China, forcing American engineers to leave the country and forcing American companies to find alternative suppliers - usually at a huge cost. But it has become increasingly clear that the major European powers (and the EU itself) have chosen who - China. Major European powers talk about how the West needs a united front, how the West should confront China's growing political influence, and how to unite with the United States based on common values. But the problem is that at the same time, Europe is also accelerating its economic relations with China. Look at some of the decisions made in the past few months. Last week, French auto giant Renault reorganized its new division. Among them, the engine manufacturing department will establish a joint venture with the ambitious Chinese enterprise Geely. The French government holds 15% of Renault's shares and has been its major shareholder so far. Renault will not take any action without the approval of the French government. Germany has just allowed COSCO, a Chinese company, to hold shares in a terminal at Hamburg Port. Hamburg Port is one of the most important ports on the European continent. Meanwhile, Prime Minister Schultz flew to Beijing this month to promote trade. Although battery is a strategic industry, China is increasing battery production in Europe on a large scale. This year, China's Honeycomb Energy Company has expanded a large new factory in Germany; The manufacturer Ningde Times announced the plan to build the second large factory in Europe in Hungary. The company currently has a factory in Germany; Three Chinese manufacturers also announced plans to build plants in Spain, Germany and Portugal. From time to time, some countries try to limit China's growing influence on the European continent - for example, Germany decided last week to prevent China from acquiring two German semiconductor manufacturers - but they are very limited. Judging from all the major decisions, the major European powers are conducting more trade with China than ever before, and are making every effort to continue to increase it. In contrast, trade frictions between Europe and the United States are as tense as ever. This month alone, the European Union slammed President Biden's subsidies to American enterprises in the Inflation Reduction Act, complaining that they protected their own industries at the expense of their European counterparts. At the same time, it also complained to the United States that its subsidies for electric vehicles discriminate against European competitors. Although this makes the EU look hypocritical, because the EU is also investing huge subsidies in its own green energy, and recently passed a "chip bill" to make itself as self reliant as possible in the semiconductor field. Europe has hardly wasted any opportunity to provoke a trade war with the United States, while steadily strengthening its trade and investment relations with China. Industrial policy is far more important than words. The investment decision of Europe shows more and more clearly that the major powers of the EU have chosen one side - the other side is in the East. (Liu Xinshe)

Edit:Hou Wenzhe    Responsible editor:Weize

Source:cankao xiaoxi

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