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‘De-risking’ is not in the interest of the EU

Liu ZuokoiLiu Zuokoi

The meeting of the Council of the European Union in Brussels last Thursday to Friday had on the agenda the Russia-Ukraine conflict, the economy, security and defence, migration and a strategic discussion on China. This suggests that the EU has not made any substantial changes in its policy towards China as a “systemic partner, competitor and rival”. Indeed, a heated debate is ongoing within the EU over its policy towards China.

At a time when the global economy has yet to overcome the impacts of the COVID-19 pandemic and is struggling to deal with the fallout from the Russia-Ukraine conflict, the United States and some other Western powers have stepped up their efforts to demonize China. . As a result, Europe’s perception of China has become increasingly negative.

Communication and interaction between China and the EU has declined over the past three years due to the pandemic, while the Ukraine crisis has made the EU even more prejudiced against China, and the US narrative of “democracy versus authoritarianism” has gained traction in Europe. .

To eliminate EU prejudices against China and ensure that EU leaders and media see China for what it is – the world’s second-largest economy ready to work with the rest of the world for the common good – we need Chinese leadership and enlightened Europeans.

China has always seen the EU as a partner. Beijing believes that cooperation with the EU embodies the characteristics of peace, growth, reform and civilizational partnership. China does not see itself as a rival to the EU; instead, it sees the EU as a pragmatic partner for cooperation.

China hopes that the EU will develop a correct understanding of China rather than blindly following US policies of inciting clashing camps, engaging in zero-sum games, politicizing East-West relations, displaying a Cold War mentality, building exclusive groups and use economic and commercial relationships as weapons, while making practical cooperation a matter of security.

Attempts are even being made to de-link the EU from China in the fields of high technology and culture, although the commercial term “de-risking” is used for this.

Such is the influence of US foreign policy on some high-level decision makers in the EU that they have become US amplifiers and mouthpieces, further accelerating divisions within the EU.

However, there are still voices in the EU that highlight the importance of the bloc maintaining strategic autonomy and seeking its own interests instead of blindly following the US in confrontation with China. Rational voices continue to call for a pragmatic approach to cooperation with China.

However, “de-risking” and avoiding being “overly dependent” on China have become buzzwords in the West, while China-specific policies are becoming the norm. Some Western countries have already implemented “de-risking” or “risk reduction” policies.

The “de-risking” proposal regarding China was put forward by the President of the European Commission, Ursula von der Leyen, in March, after which some German and French diplomats also started to use the term, with the US actively promoting this policy.

In May, the G7 Summit in Hiroshima, Japan, officially incorporated “de-risking” towards China into joint communication, emphasizing the need for “de-risking” rather than disengagement.

Germany’s long-awaited national security strategy was released earlier this month, showing that Germany still defines China as a “systemic partner, competitor and rival”. German Chancellor Olaf Scholz emphasized that Germany’s aim is not to disengage from China, but to minimize the risks.

According to the strategy, elements of rivalry and competition have increased in recent years, but China remains a partner, without which many of the most pressing global challenges cannot be resolved.

On 20 June, the EU launched its European Economic Security Strategy, which proposed a number of measures, including drawing up a list of technologies critical to economic security and assessing the risks they face, fully implementing EU exports on dual-use items, reviewing regulations on the analysis of foreign direct investments, and conducting joint research with EU Member States on security risks associated with exports and investments.

The policies of major EU economies often indicate the general direction that EU policy towards China will follow.

And since China lifted COVID-19 prevention and control measures earlier this year, exchanges between China and Europe have not only gradually resumed, French President Emmanuel Macron and German Chancellor Scholz have also visited China. in an attempt to improve Sino-French, Sino-German and Sino-European relations.

In addition, Premier Li Qiang’s recent visit to Germany and France has enhanced Sino-German and Sino-French understanding and helped to understand the political directions of EU countries. Reiterating that Germany is not seeking to disengage, Scholz said he would closely monitor the risks involved in cooperating with China.

Macron also stated that France will not choose to disengage from China as it does not serve French or European interests. This shows that some EU countries insist on going their own way rather than becoming US “vassal states”.

As President Xi Jinping stressed, in order to develop relations with China, Europe must first have a correct understanding of the country and adhere to pragmatic and mutually beneficial cooperation, because China is not a risk, but an opportunity for Europe.

Furthermore, during his visits to Germany and France, Premier Li stressed that China will take sincere steps to enhance mutual trust and dispel doubts as its aim is to sustain development and maintain peace.

In Germany, Li met with leaders from companies such as Siemens, Volkswagen, Bosch and BMW. And in highlighting the importance of interdependence in trade and the global economy, he said that lack of cooperation is the greatest risk and lack of development is the greatest insecurity.

At the June 27 Summer Economic Forum, he again warned against stretching the concept of “de-risking” too far or turning it into a political or ideological tool.

However, the EU’s concerns about the risks cannot be allayed in a short period. Long-term cooperation will be needed to eliminate internal barriers. Therefore, China must maintain strategic patience, continue communication and use pragmatic cooperation to dispel Western doubts.

The author is deputy director of the Institute of European Studies of the Chinese Academy of Social Sciences.

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