EU-China Investment Deal in Freeze Mode, But European Union Can’t Afford to Stand on Fence Anymore
News 18As predicted four months ago, the EU-China investment deal was dead on arrival. In other words, in case Washington and Beijing sign another deal and the chessboard of international engagements changes once again, will the EU follow the US’s lead? It is also important because this rejection of the China deal rides a strong fine print—the counter sanctions by Beijing on “several European individuals and entities, including five MEPs,” which in turn is being packaged as “an attack on fundamental freedoms.” The announcement says the CAI or any other agreement with China will not move forward while the sanctions are in place. India is the EU’s third-largest trading partner; the EU is India’s second-largest export destination; the total India-EU trade in goods and services stands at US $115 billion. Of course, the EU can equally go back and say it was wrong, it can embrace authoritarianism, it can learn from China and asphyxiate democracy and freedoms, it can copy-paste China’s National Intelligence Law and turn every entity and resident into a spy, it can attempt—and fail—to grab territories.