The End of Europe’s Chinese Dream
The COVID-19 crisis has pushed Europeans' strategic thinking about China – already shifting because of three developments – past the tipping point. After years of pursuing closer bilateral economic ties, Europeans suddenly realize that they have become dangerously dependent on Chinese trade and investment.
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BERLIN – A paradigm shift is taking place in relations between the European Union and China. The COVID-19 crisis has triggered a new debate within Europe about the need for greater supply-chain “diversification,” and thus for a managed disengagement from China. That will not be easy, and it won’t happen quickly. But, clearly, Europe has abandoned its previous ambition for a more closely integrated bilateral economic relationship with China.