Time to enjoy fruits of win-win Sino-EU partnership, not play with 'de-risking'

This is an editorial from China Daily.

In what is seen as a bid to enhance mutual trust between China and the European Union and stabilize China-EU ties, EU foreign policy chief Josep Borrell is leading a delegation on a three-day visit to China. During those three days, the delegation will attend the 12th round of the China-EU High-level Strategic Dialogue.

Indeed, the rapidly changing global geopolitical landscape, coupled with an array of high-stake challenges facing the world, has made it increasingly difficult for Beijing and Brussels to steer their relations through choppy waters. Yet, as close economic partners and important players on the global stage, the two sides are clear about the mutual need to foster a steady relationship.

Borrell's visit, however, is only part of the two sides' efforts to improve ties and enhance mutual understanding. Chinese and EU leaders have held frequent talks since the beginning of this year in order to stabilize their relationship. In fact, the two sides just concluded the 10th High-level Economic and Trade Dialogue in Beijing.

They are expected to prepare for the China-EU Summit during Borrell's visit. All these positive developments will continue to intensify interaction, help bridge the differences, and expand cooperation between them.

For China-EU ties to stabilize and gain vitality, however, much more needs to be done by the EU side, not least because "de-risking" has become an overriding policy choice for the bloc to navigate its trade and economic ties with China.

The EU has already imposed punitive tariffs on 20 Chinese steel and stainless steel products, and set import quotas for them. Now it is mulling launching anti-subsidy investigation into Chinese steel producers and electric vehicle makers. These measures, unnecessary and ill-intentioned, have prompted Beijing to conclude that the EU's "de-risking" policy is actually "de-coupling" by another name.

China has repeatedly opposed the West's "de-risking" rhetoric as it reflects the zero-sum game mentality, which is at odds with the trend of the times. In today's globalized world, "de-risking" will only create more risks for the world and lead to lose-lose outcomes.

The EU apparently needs to develop a more objective and impartial view about China's development, as China-EU cooperation, resilience of the Chinese economy and the EU's urgent need to shore up its sluggish economy all indicate the two sides have everything to gain from deepening cooperation, and everything to lose from "de-risking".

Hopefully, Borrell's visit will help Brussels adopt a more pragmatic and cooperative attitude toward its relationship with Beijing, and allow the two sides to instill more confidence in both parties, and work together to address regional and global issues such as the Ukraine crisis and the sudden eruption of fighting in the Middle East.