EU, China sign investment deal 7 years in the making
Al JazeeraThe investment deal will help redress what Europe sees as unbalanced economic ties. The European Union and China agreed on Wednesday to an investment deal that will give European companies greater access to Chinese markets and help redress what Europe sees as unbalanced economic ties. China’s President Xi Jinping said on Wednesday the investment deal will offer bigger markets and a better business environment for both Chinese and European investments, the official Xinhua news agency reported. Jake Sullivan, President-elect Joe Biden’s pick as national security adviser, tweeted last week that the new US administration would welcome early consultations with Europe on China’s economic practices. Compared with a trade deal, which might include retaliatory tariffs, such an investment deal is also more difficult to enforce, Lee-Makiyama said, noting that the EU would be unlikely, for example, to seize Chinese assets.