Could China Become Europe’s New Economic Lifeline?

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

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