Thursday, December 19, 2024
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EU leaders and Xi discussed trade imbalances

EU leaders met with Chinese leader Xi Jinping in Beijing on Thursday to stabilise relations between the nations.

European Council President Charles Michel and European Commission President Ursula von der Leyen‘s meeting with Xi was the first face-to-face meeting between the leaders of China and the EU in more than four years.

The two sides had few expectations for the summit. Trust between China and the EU has been undermined by unfulfilled promises to open the Chinese market to European businesses, as well as Beijing’s crackdown on freedoms in Hong Kong and Xinjiang. China also believes that Europe is heavily influenced by the US.

Beijing has been trying to get Europe on its side to prevent the US from expanding its influence over the region. However, the war in Ukraine has only strengthened the transatlantic alliance as Europe becomes increasingly dependent on the US.

The 27-member European bloc has labelled Beijing a “strategic rival” and agreed in June to work to “de-risk” its supply chains by limiting their reliance on Chinese companies. The EU also joined the US in adopting restrictions on high-tech trade with China.

According to an official summary from China of Mr. Xi’s meeting with the European leaders, Mr. Xi urged them to bolster cooperation with China to enhance “political mutual trust” and “eliminate all kinds of interference,” a tacit reference to Washington.

China has said that the two sides are not rivals, and that their common interests far outweigh their differences. But tensions are also rising over the cheaper Chinese electric vehicles, solar panels and wind turbines that have flooded the European market.

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