The relationships between China and the European Union, also known as Sino-European relations started in 1975. The main aim of the association was to improve peace, promote development and build people-to-people exchanges. China then became EU’s second largest trading partner after the United States. The EU gave China a policy that emphasizes on reciprocity and fairness (Griese, 547). The policy can be summed up in three words: engagement, cooperation, and partnership. The EU and China have held annual summits with the primary aim of maintaining their political and economic relationship.
Engagement refers to China being involved in the coming up of solutions to the challenges being faced by regions globally. Cooperation consists of coming together with enough expertise and discussing issues ranging from politics to the environment and trade then coming up with solutions (Griese, 548). The partnership involves combining EU and China’s strength to come up with adequate solutions to global challenges.
In 2007, a new agreement was signed, and the Trade and Economic Agreement (1985) was said to be outdated. With the new era agreement, both the EU and China issued some requests. China wanted the EU to consider three issues: EU to stop supplying weapons to Taiwan, totally ban the sale of arms to China and not to have contact with the exiled Tibet government (Andreosso-O’Callaghan, 123). The Paris Agreement was implemented in 2015, and it emphasized fighting against climate change and showing global leadership.
The EU and China relationship are currently intensifying, and trade, investment, economic and political interests should be put down in the new Partnership and Cooperation policy (Men, 788-795). Their main area of interest is how they can share knowledge, ideas, and experiences. The relationship has helped a lot of people in China and Europe by creating opportunities for them. The 20th Summit between the EU and China was held in 2018, and the leaders agreed to support each other and respect the rules-based, multilateral trading system.
According to “Diplomatic relations and mutual strategic perceptions: China and the European Union.” The China Quarterly journal (10-32), the relationship between the EU and China has been of a significant impact to the global world. They have improved the market economy status and could do better in the coming years. The EU companies have not managed to get into the Chinese market because of the lack of bilateral free trade agreement. The EU should consider conferring of the market economy (ME) for it to have a much better economic relationship with China.
There have been both negative and positive impacts on the ME among the two partners. China has always claimed that the Chinese businesses are handled unfairly and unjustly and this has been a hindrance to the economy of the Chinese government (Men, 788-790). As the EU penetrates on the Chinese market, it should also give space for China to engage in business with its people without any discrimination. This would strengthen their relationship and enhance their market economies.
The EU has been China’s biggest trading partner when it comes to technology (Van der Ploeg et al. 133-135). Most countries in the world have been of much dependence to these two partners in technology. Apart from the misunderstandings, the partners have been able to come up with innovations and have embraced economic creativity. This has boosted the economy, not only among the two partners but globally.
As these two partners continue to prosper in economic and political development, they should relate well, strengthen their ties and concentrate more on economic events and global solutions to climate challenges. Some developing countries develop on them for economic growth.