The relations between Europe and China have been growing sour. The recent postponement of a landmark summit that had been announced by Germany is just looking like an offshoot from that bad breathe between the two massive economies.
China’s anti- EU propaganda has been extremely offensive for the European Union. The former has been blaming them for their weak treatment of the virus outbreak, trying to hide its own lack of transparency in the origins and its initial handling protocols.
Pitched as a landmark occasion, the summit would have fallen under Germany’s six-month Council of the EU presidency, which kicks off on July 1. The aim of the summit was to seal an investment protection agreement between Beijing and Brussels. The summit that was to be held in Leipzing was to be held in September 2020.
The summit that was a key investment treaty would have been the first-ever meeting between China’s leader, Xi Jinping, and all 27 of his counterparts from EU member states. But both sides are saying nothing really has changed and they will engage into discussions over video-conferencing, to try and close gap the investment summit that has not fructified since 2012.
However, economic analysts have read between the lines and feel that EU does not see itself on the same fair playing field as China. Its handling of the virus seems to have been more pre-planned than the rest of the world.
Strangely, several European states have in recent years implemented mechanisms to prevent their own firms in strategic sectors from being bought out by foreign investors, principally from China. The latter has pointed this out as a dampener to any future investment deals.
There are trust issues and they are evident. Post the pandemic unpleasantness, the rift has widened and the postponement might just be a protective distance tactic to play in favour of EU members states, as of now.