As Beijing and Brussels exchange trade delegations and explore common ground for an upcoming summit, Europe faces mounting crises, particularly in Germany, which is grappling with a severe economic recession and declining competitiveness. Recent data shows that trade between China and Europe reached $247 billion in the first four months of the year, surpassing China-US trade. European investments in China hit $150 billion, while China invested $110 billion in Europe. Notably, China is negotiating with Airbus to purchase 300-500 planes, challenging Boeing’s dominance. Meanwhile, Germany’s struggles include $840 billion in losses due to the pandemic and the Ukraine war, with thousands of companies at risk of bankruptcy. European economist Nasser Zuhair describes this shift as a pragmatic move to counter US pressures and economic challenges. The upcoming July summit could redefine EU-China relations, but internal divisions within Europe may complicate Beijing’s ambitions.
— new from سكاي نيوز عربية
