Commentary
China’s economy is unraveling because its economic strategies are failing. Such is the way with communists.
Beijing’s primary economic strategy is to revive international trade and investment ties with the West, especially Europe. The Chinese Communist Party (CCP) sees Brussels as more compliant than Washington, which is true though even the European Commission last month issued a policy that would “de-risk” European supply chains from China and limit exports of sensitive military technologies to the country.
On July 15, China’s foreign minister, Wang Yi, asked the European Union to “clarify” its “strategic partnership” with China, agreed in 2003. The relationship has been under particular stress since 2019 when the EU officially recognized China as an “economic competitor” and “systemic rival” because of Beijing’s support of Moscow’s belligerence, not to mention its broader preference for communism and dictatorship over market democracies….
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