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Opinion
How to make the most of China’s accidental rise as a European power
- Brussels has misread Beijing’s global aspirations – there is no grand plan behind Chinese acquisitions of European assets
- But, as China becomes a stakeholder in Europe, the continent should adopt a pragmatic strategy to profit from this
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The past three years have seen increasingly vocal European criticism of China’s involvement in the continent. This culminated in March with the European Commission’s designation of China as a systemic rival.
What is behind such hostility? Is it China’s growing global footprint through its gargantuan “Belt and Road Initiative”? Is it Beijing’s bonhomie with the countries of Central and Eastern Europe?
Of all the factors that explain European wariness, the underlying one is the realisation that China is here to stay. What is peculiar, however, is that China’s rise as a power in Europe came by accident, rather than design.
In 1995, Richard Holbrooke – the then US assistant secretary of state for European affairs – called America a European power. His observation rested on, among other things, the fact that president Bill Clinton had made four trips to the continent the year before.
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