The European Union And The People's Republic Of China

1924 Words8 Pages
Introduction This year, the European Union and the People 's Republic of China celebrate their 40 years anniversary of diplomatic relations with 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 experienced many difficulties and challenges, until the last two decades, which 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…show more content…
Going through the background of the relations between the two sides, focusing primarily on the economic aspect of it, the paper will examine the opportunities and challenges of the strategic partnership between the EU and China and it will argue that for China, the EU is the best economic and strategic partner within the global economic system. EU-China economic relations: a brief overview Europe and China share a long history of bilateral relations and economic cooperation. Trade and economic exchanges go back as long as 20 centuries ago, when the Roman empire formed relations with ancient China in order to trade goods through the Asian continent. The most infamous one is the example of the so-called "silk roads", paths that enabled cultural interaction and commodity sharing, such as gold and silk, between European (Greek, Roman, Byzantine) and Asian (Chinese, Indian, Persian) civilisations and were carried out by missionary merchants and pilgrim travelers. During the modern history, however, European and China economic relations have gone through many ups and downs, as the international climate affected drammatically their perception of each other. The two World Wars damaged heavily the economies of Europe, while China was still under very low levels of economic development. After the second World War, the US rose as the global economic power and overshadowed the previous European (UK, France, Germany and Netherlands) economic
Open Document