China-EU trade talks rebalance, stabilize relations

Finding a way through

Both China and the EU agreed that the successful convening of the second meeting under the consultation mechanism marked a new beginning rather than an end, said a Chinese commerce ministry official in an online statement released on Saturday following the talks.

Hopes are high that the 16-point consensus will be translated into concrete steps.

"The most important thing for businesses is what that roadmap for future China-EU trade looks like, so that businesses can operate and move forward in an effective way," said Cameron Johnson, a senior partner at Tidal Wave Solutions, a Shanghai-based business consultancy focusing on supply chains.

Both China and the EU also agreed that there is significant potential for cooperation in new energy, artificial intelligence, trade in services, the digital economy, and green and low-carbon development, the commerce ministry official said.

For Roehr, charting a path forward in a relationship as consequential as that between China and the EU begins with recognizing how closely the fortunes of economies around the world are now intertwined. Strains in one economy can be felt across others, just as prosperity can yield benefits beyond its borders.

That interdependence calls for an appreciation of one another's circumstances and a readiness to draw on that understanding when frictions arise, seeking workable solutions acceptable to all sides. Doing so serves their respective interests while sustaining what Roehr described as the "equilibrium" in their dealings with one another.

Roehr said he hopes the Beijing agreement signaled a willingness to find that common ground.

"China and Europe are too important to one another, and too important to the world economy, to allow their relationship to be defined by risks and disputes alone", said Schumann.

Contact the writer at zhengwanyin@mail.chinadailyuk.com.