EU asks the USA to stop bullying it against China

[beijingwalker]

EU asks the USA to stop bullying it against China​

Dec. 3, 2022 9:12 am UTC

Key Takeaways:​

• The United States has imposed fresh limitations on tech exports to China
• The Biden administration wants European Partners to limit their trade with Beijing
• The EU is too dependent on China and is strengthening its ties instead

The United States expects the EU to impose trade restrictions on China. Photo by Christian Lue

YEREVAN (CoinChapter.com) — The United States (USA) is going after China and wants its partners in Europe to join in. However, President Joe Biden’s attempts to create a larger alliance against the Asian giant may eventually fail. The European Union (EU) is too dependent on China. It simply can’t back the USA against it.

Ever since he took power, President Biden has ramped up the anti-China rhetoric coming from the country. Several US officials have voiced concerns that US companies may eventually suffer heavy losses owing to the competition coming from China.

European countries do not dispute that the world’s second-largest economy is a threat. Many point out that the continent’s dependence on Russia for its energy security needs has been a large mistake. Since the Kremlin’s invasion of Ukraine, the continent is paying a heavy price for having granted Russia so much leverage.

To many people, Europe’s dependence on China, which is also an authoritarian regime, is equally bad. Calls to reassess trade relations with Beijing have since intensified.

However, EU economic obligations suggest that a move away from China will not be easy. Even if it comes at the cost of a strained relationship with the United States, EU countries will continue to have strong ties with the country and its Communist regime.

European Union (EU) economy in crisis​

The economy of the European Union is in shambles. The Covid-19 pandemic, which disrupted global supply chains thanks to the lockdowns, inflicted huge blows on the Eurozone.

The ongoing war in Europe, caused by Russia’s aggression on Ukraine, has made matters much worse.

In its latest report, the European Commission (EC) slashed its growth forecasts for 2023 to 0.3% in both the EU and the euro area. This is a significant drop from its summer forecast of 1.5%.


The commission also predicted a technical recession in the EU, owing to economic troubles.


Annual inflation in the Euro area is expected to be 10.0% in November 2022.

Inflation in October reached a record high in the 19 eurozone countries. In Germany, among the hardest hit, inflation reached 11.6%. Italy and France were also impacted, with each recording price hikes at 12.8% and 7.1% respectively.

“The contraction of economic activity is set to continue in the first quarter of next year. The EU and euro area, and most Member States, are therefore expected to experience a technical recession this winter,”
the report reads.

Energy prices jumped 41.9% while food, alcohol, and tobacco registered a 13.1% price growth.

Meanwhile, there seems to be no respite in sight. The European Commission expects inflation to remain high. According to the executive body, prices in the EU will rise 9.3% year-on-year and will stay high at 7% in 2023. This is up from the previous forecasts of 8.3% and 4.6% respectively. Unemployment in the EU will also reach 6.5% in 2023.

Recommended: With the UK economy gone to the dogs, people in the country are eating pet food to survive

Sorry USA- the EU is too dependent on China​

The European Union in particular, and Europe at large, has become too reliant on China for trade. Many EU companies look for opportunities to invest in the country’s economy.

In the import and export sector, the interdependence of the EU and China is immense.

China is the EU’s biggest import partner. 22% of all imports into the European Union come from China, according to 2021 statistics. Moreover, the Asian economic powerhouse is the third-largest importer of EU goods, amounting to 10% of the total imports.

European Union’s goods trade with China is vital for the EU economy. Graph from Eurostat
According to the United Nations COMTRADE database on international trade, EU exports to China amounted to $260.61 Billion in 2021.


Meanwhile, the United States has imposed fresh sanctions on its tech exports to China. As the self-styled leader of the Western alliance, it now wants the EU to do the same.

While acknowledging the Asian giant’s ever-growing influence, the European Commission knows well that “China matters to the EU“.

“On the international stage China is now a heavyweight, both economically and financially. China is the EU’s second biggest trading partner. As a consequence, China’s political, economic and social development matter to the EU more than ever,”

the EC website reads.

Crumbling alliance over China​

The demands of the United States from its EU partners are selfish and insensitive. Europe has already paid a heavy price by joining the US-led alliance against Russia.

By pressurizing EU countries not to compensate for their losses by doing business with China, the US is pushing them to commit suicide.

However, the message from the EU has been clear. They will not give a cold shoulder to Beijing.

At the Brussels Indo-Pacific Forum last week, Josep Borrell, the High Representative of the Union for Foreign Affairs and Security Policy, did not mince his words.

“The truth is also that a vast majority of Indo-Pacific and European countries do not want to be trapped into an impossible choice. They don’t want to have to choose either the US or China. We don’t want a world that is split into two camps,”
Borrell said regarding Washington’s expectations.

The influence of the US on the EU is waning. The President of the European Council, Charles Michel, traveled to Beijing on 1 December to meet with Chinese President Xi Jinping. This is the first in-person meeting in around 4 years.

The visit comes a month after German Chancellor Olaf Scholz visited Beijing despite widespread criticism. Under huge economic pressure and amid anti-government protests, Europe is looking to China to bail them out.


The rift comes amid accusations coming from Europe that the USA is profiting from the war in Ukraine. In an interview with POLITICO, Josep Borrell blamed Washington for making decisions that are disastrous for the EU.

“Americans take decisions which have an economic impact on us,”
Borrell told reporters.

There is an element of truth in Borrell’s words. The US is being self-centered in expecting its European partners to forgo their interests. It is clear, that the EU is too dependent on China to back the US in this.

EU asks the USA to stop bullying it against China

The United States (US) wants its European partners to impose trade limitations on China. The EU is too dependent on China to follow the US

coinchapter.com

 

[Dungeness]

Money talks, bullshit walks.

 

[beijingwalker]

When US pushes too hard, even EU turns. EU got fooled by US over Ukraine crisis once, it seems that they are not ready to be fooled twice.

 

[etylo]

European hypocrites will do whatever serves their interests best regarding China, they dont have any favours or affinity towards the Chinese are for sure.

 

[beijingwalker]

Even a worm could turn, US shouldn't push EU too hard.

 

[Hamartia Antidote]

Even a worm could turn, US shouldn't push EU too hard.

LOL! Dream on. Russia in an instant has screwed all your work for the past 20+ years.

U.S. and EU positions on China are converging, top official says

The goal is "not to be nasty, but not to be naive."

www.axios.com

U.S. and EU positions on China are converging, top official says​

The EU and U.S. positions on China have converged, due in part to Beijing's growing assertiveness and burgeoning partnership with Russia, according to Stefano Sannino, secretary-general of the EU’s foreign policy arm.

One factor pushing the U.S. and EU closer together has been China's "new friendship" with Russia, particularly since the invasion of Ukraine, Sannino said.

 

[kankan326]

LOL! Dream on. Russia in an instant has screwed all your work for the past 20+ years.

U.S. and EU positions on China are converging, top official says

The goal is "not to be nasty, but not to be naive."

www.axios.com

U.S. and EU positions on China are converging, top official says​

The EU and U.S. positions on China have converged, due in part to Beijing's growing assertiveness and burgeoning partnership with Russia, according to Stefano Sannino, secretary-general of the EU’s foreign policy arm.

One factor pushing the U.S. and EU closer together has been China's "new friendship" with Russia, particularly since the invasion of Ukraine, Sannino said.

Do you think Europeans are all idiots? It was US who pushed Russia and China together. Maybe European politicans are too coward to tell the truth due to US pressure. But it doesn't mean they are blind and have lost basic logic. They saw what US had done to China and Russia.

 

[Stranagor]

LOL! Dream on. Russia in an instant has screwed all your work for the past 20+ years.

U.S. and EU positions on China are converging, top official says

The goal is "not to be nasty, but not to be naive."

www.axios.com

U.S. and EU positions on China are converging, top official says​

The EU and U.S. positions on China have converged, due in part to Beijing's growing assertiveness and burgeoning partnership with Russia, according to Stefano Sannino, secretary-general of the EU’s foreign policy arm.

One factor pushing the U.S. and EU closer together has been China's "new friendship" with Russia, particularly since the invasion of Ukraine, Sannino said.

Russian invasion has indeed been a watershed moment. Aside from the immorality of the affair in human terms, I remained against the invasion because it did away with all the remnants of our hopeful conviction that trade/resource dependency would lead to rational decisions.

From the perspective of the Russian invasion, if European powers are able to ignore energy dependency on Russia, I would anticipate them to ignore trade dependency on China should geopolitics require so. Which is unfortunate because probably lots of us are pampered with the freedoms and conveniences of globalization.

 

[Hamartia Antidote]

Do you think Europeans are all idiots? It was US who pushed Russia and China together. Maybe European politicans are too coward to tell the truth due to US pressure. But it doesn't mean they are blind and have lost basic logic. The saw what US had done to China and Russia.

It isn't who started the war that they are watching.

They are watching to see what China is doing in reaction to it...showing its true colors when push comes to shove.

Russian invasion has indeed been a watershed moment. Aside from the immorality of the affair in human terms, I remained against the invasion because it did away with all the remnants of our hopeful conviction that trade/resource dependency would lead to rational decisions.

From the perspective of the Russian invasion, if European powers did not heed energy dependency on Russia, I wouldn't anticipate them to heed trade dependency on China. Which is unfortunate because probably lots of us are pampered with the freedoms and conveniences of globalization.

Well the thing is Europe has had a lot of crunchy-granola liberal leaders who think the world is a big happy place with everybody holding hands singing love songs.

When Trump tried to warn them that they are letting their guard down and if things hit the fan they are going to find themselves in trouble. They of course laughed that any such thing would ever happen.

Now they aren't laughing.

 

[kankan326]

It isn't who started the war that they are watching.

They are watching to see what China is doing in reaction to it...showing its true colors when push comes to shove.

Let's get straight. European countries may follow US on Russia policies because they have seen Russia as a threat for centuries. But don't be too optimistic when it comes to China policies.

 

[Hamartia Antidote]

Let's get straight. European countries may follow US on Russia policies because they have seen Russia as a threat for centuries. But don't be too optimistic when it comes to China policies.

All I can say is a bunch of European leaders started opening calling China a threat for the first time last year.

They certainly didn't call the US a threat.

Your rep is ruined.

They aren't calling any US companies a security risk either.

EU lawmakers brand Huawei, ZTE ‘high-risk’ 5G vendors

More than 40 lawmakers sign letter calling Chinese telco firms security risk.

www.politico.eu

Chips

EU joins US in ‘depriving China of the most advanced chips’, official says

‘You will always find Europe by your side when it comes to ensuring our common security in technology,’ Thierry Breton, EU internal-market commissioner, says.

www.scmp.com

 

[kankan326]

All I can say is a bunch of European leaders started opening calling China a threat for the first time last year.

They certainly didn't call the US a threat.

Your rep is ruined.

They aren't calling any US companies a security risk either.

EU lawmakers brand Huawei, ZTE ‘high-risk’ 5G vendors

More than 40 lawmakers sign letter calling Chinese telco firms security risk.

www.politico.eu

Words are cheap. Germany economy relies on China more than US. Russia is just a natural resources supplier. Which is easy to be replaced.

 

[BHAN85]

EU asking something to USA is like a slave asking something to his master.