In 2016, the EU adopted a new strategy for China, which defines the European Union`s relations with China for the next five years. The strategy promotes reciprocity, equal conditions of competition and fair competition in all areas of cooperation. Jozsef Szajer of Fidesz, Hungary`s ruling party, admitted to taking part in an illegal meeting on Friday. The conservative politician was found with drugs in his possession while fleeing one of the Belgian media. As Europe and China make economic progress, the UK has managed to move away from these two huge markets and is left to the Trump administration. Given that the EU-China agreement defends the country of origin protocol, the White House is asking Britain to withdraw it in order to reduce its food standards and flood its agricultural markets with poor quality chicken. Britain has adopted a dogmatic foreign policy, while Europe has pursued a pragmatic policy. The contrast couldn`t be greater. Unimpressed by an avalanche of sporting metaphors on identical terrain and visibly not alarmed by the stifled but polite threats to its human rights record, China will have withdrawn from this week`s virtual summit, where the European Union is rather satisfied with the way everything has happened. The 27-country bloc is China`s largest trading partner, while the Chinese market is the second largest destination for EU goods and services after the United States.
Yet economic relations between Brussels and Beijing are not well regulated. This is partly due to the fact that it has grown rapidly and exceeds their ability to legislate. But it is also because the most ambitious efforts of its kind – the Global Investment Agreement (IAC) – have not yet been successful. At the same time, the agreement came when US Secretary of State Mike Pompeo arrived in the UK to push London to toughen its stance towards China. As snub for the British government, Pompeo deliberately met with anti-Chinese MPs to discuss a point against Prime Minister Boris Johnson, a meeting described as « tougher » by the BBC. The European Union recognises the need to improve and strengthen its economic relations with China and wins a revolutionary trade deal, while the UK has opted for Brexit and Trump, two steps that will have a significant long-term impact on the country`s growth, competitiveness and prosperity. The European Union and China are two of the world`s largest distributors. China is now the EU`s second largest trading partner after the US and the EU is China`s largest trading partner.