It’s no coincidence that Washington slapped new tariffs on European goods just hours after the agreement was signed. A year of repeatedly seeking the international vilification and isolation of Beijing has ended in abject failure.
European Union leaders, including Angela Merkel, Emmanuel Macron and Ursula von der Leyen hosted a virtual summit with Chinese leader Xi Jinping on Thursday and sealed a comprehensive EU-China investment treaty. Described as the most “ambitious agreement that China has ever concluded with a third country,” the agreement serves to open up a number of sectors in China to European investment, substantially expanding their market access whilst also preserving Beijing’s existing stake within Europe.
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