Chin The European Union And The People 's Republic Of China

871 WordsMar 28, 20154 Pages
This year, 2015, the European Union and the People 's Republic of China celebrated their 40 years anniversary of diplomatic relations between one another. During these years, they have redefined their relationship, they have deepened their mutual understanding and today they share what both sides call a “strategic partnership”. However, during all these four decades, this profound relationship has experienced many difficulties and challenges, until the last two decades, which have marked a new era of political and economic strengthening of their ties. Especially since China 's accession in the WTO and the institutionalisation of its economic and trade cooperation with the EU, the two parts have witnessed a flourishing of their relations. The EU has taken into account the great rise of China as en economic power within the global system and seems to understand the economic benefits it can obtain from this new and vast market, that is gradually becoming more liberalised and globally active. On the other side, China now sees the EU from a different scope to what it used to until the 1990s, it praises the recent European aloofness from the policies of the US and it welcomes the economic interaction with the European market. However, there are still important issues, mainly of political nature, that challenge the “two giants '” current and future cooperation and could pose a threat to their further economic integration. This essay will analyse the importance of the European Union

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