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Archive for 17. Mai 2019

A Trade Love Triangle

Posted by hkarner - 17. Mai 2019

Date: 16-05-2019
Source: YaleGlobal

Networks of trade contribute to peaceful relations among nations, but Europe, China and the United States are finding themselves in a challenging love triangle. Increasing US antagonism on trade may move other economies closer together, explains Xueying Zhang, a 2018-2019 Fox Fellow at Yale University. For example, the European Union and China reached joint agreement in April to deepen their partnership on trade. “The EU is China’s biggest trade partner and China is the EU’s second biggest trading partner behind the United States,” she notes. Europe remains divided over whether China is a valuable partner and major market or ruthless competitor, especially after Chinese foreign direct investment in Europe reached record highs. Trade negotiators in Brussels aim for a tough stance on business practices, and Zhang suggests that momentum requires specific goals, rules-based order and guidance. Half of EU member states have signed memoranda of understanding on China’s Belt and Road Initiative. EU members devise foreign-investment screening measures to ensure order, and a new investment access deal with China could unfold in 2020. As the Rhodium Group notes, reciprocity is a guiding principle for economic globalization. – YaleGlobal

Economies reexamine their partnerships for a changing world order; increasing US antagonism on trade moves the EU closer to China Den Rest des Beitrags lesen »

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