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Opinion
A new framework may be the only way to save China-EU trade
Both sides have every incentive to explore a deal that does what blunt protectionism cannot: manage the complexities of their interdependence
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Yan Shaohua is an associate professor and deputy director of the Centre for China-Europe Relations at Fudan University.
The economic and trade relationship between China and the European Union has long served as a cornerstone of their bilateral partnership. As bilateral trade approaches a historic US$800 billion, this interdependence remains a pillar of global stability despite shifting geopolitical winds.
However, the discourse surrounding trade imbalances between the two has become a flashpoint for tension, with reports indicating a goods trade deficit exceeding €300 billion (US$352.6 billion). While French President Emmanuel Macron and other European leaders have called for an urgent rebalancing of China-EU relations, a constructive path forward requires them to move beyond political rhetoric and address the structural realities of global trade with macroeconomic realism.
From a Chinese perspective, the EU’s concerns regarding industrial resilience and the sustainability of its domestic market merit high-level dialogue. Mechanisms such as the EU-China High-Level Economic and Trade Dialogue are essential for addressing mutual concerns. Even so, Europe must not overhype these figures.
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