This year, economic relations between Europe and Asia have deepened considerably, but China has declined significantly to many respects. At this year’s ASEM and EU-ASEAN rally in Brussels, the EU has taken decisive steps to deepen its trade relations with Singapore and other ASEAN countries, while the Prime Minister’s promise Chinese Minister Li Keqiang to further open the Chinese economy was greeted with skepticism.
European Commission President Jean Claude Juncker said: “The EU’s partnership with ASEAN is based on common interests in many areas and we share common values – in the European Union and in the European Union. founding charter of ASEAN – to be respected by all. “More than rhetoric, this emphasis sends a signal to China. After an eight-year process, the EU and Singapore signed a trade agreement at the 12th Asia-Europe meeting on 18 and 19 October – a reassuring development for both sides in the face of precarious trade relations with the United States.
The agreement, which has yet to be ratified by the European Parliament, follows the EU-Japan trade pact. The European Commission has also adopted trade and investment agreements with Vietnam at the meeting. and is currently in negotiations with three other ASEAN countries. In his bilateral meetings with the heads of government of Germany, France, the United Kingdom, Greece and Italy, as well as with Juncker, Li underlined the recent openings of China, which have benefited some European companies.
However, China’s trading partners have reason to doubt Beijing’s commitment to market liberalization. Despite the recent exchange of market access offers, negotiations for a bilateral investment agreement between China and China are not expected to progress significantly in the near future, as China’s open up its economy tend to be selective and transactional. According to Reuters, European and Asian leaders at the ASEM summit, “lobbied China to allow more foreign investment into its economy, but ran into Beijing’s usual resistance over public subsidies. “
This is an Access to full Article/Source [+sociallocker]https://www.merics.org/en/newsletter/china-update-162018[/sociallocker]