Why should Europe chart new relations with China?

Chinese Premier Li Qiang speaks at the Summit for a New Global Financing Pact in Paris, France, June 23, 2023. [Photo/Xinhua]

By Emilia Fernandez

Recently, Chinese Premier Li Qiang urged at the Summit for a New Global Financing Pact in Paris that China and Europe should "rise above differences" and come up with "creative solutions" in order to confront global challenges.

While the U.S. is consistently pushing for Europe to embrace the idea of "de-risking" from China, experts say that Europe should chart new relations with China considering the complex geopolitical situation and shifting global power dynamics. This dilemma raises a new question, "Should Europe deepen its ties with Beijing?"

China's remarkable economic growth over the past few decades has made it among the world's largest exporters of goods and holders of foreign exchange reserves. Deepening economic ties with China, the world's economic powerhouse, can help Europe tap into a market of 1.41 billion consumers and open up new avenues for trade and investment. Bilateral cooperation in areas such as technology, infrastructure, and green energy can boost economic growth and employment for the people on both sides.

Furthermore, the Belt and Road Initiative, China's signature foreign policy project, offers Europe tremendous opportunities in terms of the development of transportation and trade networks, connectivity enhancement, and economic integration across Eurasia. Not to mention, deepening economic ties with China will be helpful for Europe to overcome the economic fallout triggered by COVID-19 and the Russia-Ukraine conflict.

China and Europe, two great civilizations, share rich cultural ties with longstanding traditions of cultural exchange dating back centuries. By promoting cultural understanding, fostering exchange programs in education, and facilitating people-to-people contact, Europe can build bridges of friendship with China. And, such bridges can help eliminate misconceptions and mistrust, promote tolerance and respect, and lay the foundation for enduring and peaceful partnerships. The blending of Chinese and European cultures can lead to innovative ideas that could break down barriers toward global citizenship and create a more interconnected world. 

In this hyper-competitive and multipolar world, confronting global challenges requires coordinated efforts and cross-border collaboration. For a long time, China and Europe have had a common interest in upholding the principles of multilateralism and global leadership and governance. By strengthening ties, Europe can involve China as a responsible stakeholder, and encourage the latter's active participation in international organizations and efforts to address pressing issues such as nuclear non-proliferation, climate change, and poverty alleviation. Additionally, cooperation between China and Europe can help shape global norms, rules, and institutions, promoting a more inclusive and balanced world order.

In this era of growing global challenges, China and Europe have a shared responsibility to tackle common challenges such as poverty, climate change, health crises, cyber threats, terrorism and extremism, violence, conflicts, etc.

By cooperating with China on various fronts, Europe can significantly boost its efforts toward achieving the Sustainable Development Goals and addressing common global challenges. Apart from cooperation in traditional fields such as nuclear energy and aerospace, both sides may also tap into potential areas of cooperation such as artificial intelligence, digital economy, and advanced manufacturing.

As China-U.S. competition intensifies, with some speculating about an eminent "new Cold War," Europe finds itself in a delicate position as a negotiation partner. By strengthening relations with Beijing, Europe can play a critical role in ensuring stability and balance in the world order.  

Taking a neutral stance and engaging in constructive dialogue with the U.S. and China, two major global powers, could allow Europe to leverage its priceless position as a mediator to prevent conflicts, mitigate tensions and minimize the probability of armed conflicts, and promote peaceful resolutions and de-escalation. On top of that, Europe can utilize its bond with China as a diplomatic instrument to enhance its strategic autonomy and protect its interests in an increasingly complex geopolitical environment.

As the second-largest economy and a major player in global affairs, China presents a wide range of opportunities for Europe, which is now navigating through a rapidly changing global landscape. Along with China, Europe can position itself as a key player on the stage of world politics by embracing economic and trade opportunities, promoting multilateralism, facilitating a truly multipolar world system, and a rules-based international order. In order to restore Europe's position in the world's system, it should strengthen its ties with China while protecting its own interests and contributing to a more peaceful and prosperous world.

Due to the constant U.S. pressure on Europe over its China policy, the China-Europe ties have been going through some fluctuations in recent times. As China is willing to work closely with Europe to promote a balanced development of trade, stick to mutual benefits and reciprocity, and expand market access, Europe should construct a clear realistic view to change the trajectory of the China-Europe relations to new heights.

Emilia Fernandez, a special commentator for CGTN, is a security and political analyst with a focus on South Asian geopolitics, and PhD researcher at the University of Lucerne, Switzerland.