An attendant walks past EU and China flags ahead of the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 25, 2018. REUTERS/Jason Lee
(Bloomberg) — A major investment deal reached in December between the European Union and China — after seven years of painful negotiations — may end up being the high-water mark for ties that are quickly deteriorating again.
Since then, the EU’s executive branch and Germany have each formulated legislation that would make life harder for Chinese entities to invest, while joining the U.S. in swapping tit-for-tat sanctions with Beijing.
Italy’s government has turned from an enthusiastic backer of President Xi Jinping’s Belt and Road Initiative to blocking planned acquisitions by Chinese companies. And in France, China’s ambassador didn’t even show up when summoned in March, citing “agenda reasons.”
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WNU editor: Europe has found some back-bone …. EU slams China’s ‘authoritarian shift’ and broken economic promises (Politico.eu). More here …. EU blames China for endangering peace in South China Sea (Reuters).
Update: More European backbone being shown …. EU ‘suspends’ ratification of China investment deal after sanctions (The Guardian). More here …. EU-China investment deal put on ice over sanctions (DW), and here …. EU trade chief says efforts to ratify China deal ‘suspended’ (Politico).