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In the next few hours European Union me China they could sign a historian treaty commercial: the Comprehensive Investment Agreement.
An agreement that would radically change the relationship between the two economic areas, allowing an increase in the volume of trade and investment for both European and Chinese companies in various sectors, including manufacturing, telecommunications, construction and transportation.
The agreement on the talks started in 2013 could be signed at the end of 2020, thanks to the surprising proposal from China. In this way the Merkel, before his role as President of the EU Council expires on December 31, after reaching the agreement with the United Kingdom on Brexit, he could achieve this additional goal.
Without a doubt, the treaty would have a significant economic impact for both the eurozone what for him Continue, with the CAI which implies radical measures and changes in relationships for both parties.
EU-China Treaty: what is the IAC and what it provides
The measures contained in the Comprehensive Investment Agreement, even if it is not yet formalized, it must include:
- New opportunities and better conditions for European and Chinese companies to access their respective markets
- Harmonization of regulatory contexts related to transparency and legal certainty
- Guarantees for investors from both sides in the EU and China, with mutual protection against discriminatory behavior and unfair treatment
- The possibility of transferring capital and investments from one area to another without obstacles.
- Support for sustainable development initiatives, by promoting responsible investments and promoting environmental and labor protection standards
- Establish a resolution mechanism in case of disputes between the two parties.
In addition l‘European Union It specifically requested the adoption by the Government of Beijing of rules in its legal system to eliminate the currently existing asymmetries, due to the non-compliance by Chinese companies of some fundamental safeguards.
If an agreement is indeed reached by the end of the year, it would still have to wait until the end of 2021 before it is implemented by everyone. Member countries of the EU.
The United States against the EU-China deal, here’s why
All the states of the community bloc seem to be in favor of the conditions reached by the Brussels emissaries, but from Poland came the suggestion to wait for the start of the new Brussels presidency. Joe biden before ratifying the CAI.
Precisely from the president-elect’s entourage, ready to take office in the White House on January 20, comes the warning from future National Security Advisor Jake Sullivan, who on Twitter invited consultations with the Biden-Harris administration on American concerns. . against China.
If signed, Biden would not be able to implement his foreign policy strategy, which provides for the formation of a global coalition, which should also include Europe, capable of stopping the expansionist objectives of the People’s Republic led by Xi Jinping.
