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Chinese President Xi Jinping and the leaders of a united Europe announced in a video conference that an investment agreement between the European Union and China had been concluded. The importance of the meeting is evidenced by the fact that it was attended by the Chinese leader, German Chancellor Angela Merkel, French President Emmanuel Macron, the President of the European Commission, Ursula von der Leyen, the President of the European Council , Charles Michel. The agreement removes a number of barriers for European companies in the Celestial Empire. On the way to Beijing, the EU indicated to Washington that it would not obey its dictates, Nezavisimaya Gazeta reported, quoted by the FOCUS news agency.
Negotiations began in 2013 and have been repeatedly suspended due to disagreements. But after Joe Biden’s victory in the US elections, the Chinese side “pressed the accelerator”, offering various discounts to European companies to access its market. The challenge was to close the deal before the end of the year. Among other things, Beijing is no longer committed to forcing European companies to transfer their technology to Chinese partners in joint ventures.
Ursula von der Leyen said: “The EU is the world’s largest single market. We are open for business, but we are committed to the principle of reciprocity, a level playing field and values for all. She stressed that the negotiations have been concluded in principle. The importance of the last comment is revealed in the explanation given by the representative of the Chinese Ministry of Commerce, Li Yunsha. China and the EU will soon re-verify the text of the document, translate it and other techniques The document will enter into force after finalization of the relevant legal proceedings on both sides, Li Yunsha added.
According to the US television channel NPR, the agreement represents a diplomatic victory for Beijing. And in Washington, it will be seen as a sign of contempt sent to the future Biden administration. After all, he asked the EU to wait. Theresa Fallon, director of the Center for Russian, European and Asian Studies in Brussels, says the prey of transatlantic relations is a bit poisonous. “The Trump administration has been saying for four years that the EU is worse than China. Anti-American sentiment is increasing among EU leaders. They don’t want to do what the United States wants, he said.
Fallon added that the European side’s advancement of the deal was initiated by Merkel. He wants to crown his last year as chancellor with a landmark treaty with China. Furthermore, Germany is China’s largest trading partner in the EU.
However, the treaty is unlikely to enter into force in 2022. The debate in the European Parliament, according to commentators, will last more than a month.
The New York Times predicts that the historic pact will face political opposition in Europe and Washington. And this opposition can ruin the deal. The majority of the European Parliament, which must ratify the agreement, opposes it on the grounds that the document does not guarantee an end to human rights violations in China. Furthermore, the Biden administration sent a clear message that the deal did not suit them.
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