FT: What Does China Want From Europe?

The Middle Kingdom is not to be trusted.

Next week's EU-China summit in Beijing - Chinese leader Si Jinping has refused to go to Brussels. Despite the lack of breakthrough decisions, the meeting is significant: Europe finds itself caught between three centers of power - Russia, the US and China - with the latter remaining the least understood, writes Financial Times (translated by Charter97.org).

The China threat is no longer abstract: Beijing supports Putin's war, is spying on the EU and is ahead of Europe in key technologies. In addition, a possible blockade of the Taiwan Strait - through which up to half of the world's container traffic passes - threatens a global economic crisis.

China seeks to create its own world order, opposing Western democracies. One leverage is control over strategically important resources. Although minerals are mined around the world, their processing is largely concentrated in China. Restricting supplies could paralyze Western energy and defense.

China's main goal, however, is exports. Despite problems in the economy, Chinese electric car and battery makers have made outstanding gains and need European markets. The EU has imposed tariffs on Chinese EVs, but companies such as BYD and Xiaomi are already building factories in Hungary. That said, Chinese cars are of higher quality and cheaper than Western cars, something even the industry recognizes.

China's exports to the EU far exceed its imports. "The "fantasy of the Chinese market", which originated in the 19th century, is gradually going away. However, one area for cooperation remains - green energy. Europe needs Chinese technology. This alliance is more of a necessity than a romance.

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