torsdag 14. februar 2019

What’s New About China’s Latest EU Policy Paper?

China is more determined than ever before to show itself to the EU as a real, dedicated, and committed player in the game of globalization and multilateral trading order. Therefore China wants to be taken seriously by the EU at an eye-to-eye level, as President Xi Jinping attempts to address a noticeable domestic economic downturn and divert attention or find new solutions. As China begins to slowly lose its comparative advantage as a low-cost manufacturing country, it is attempting to shift toward a consumption and innovation-led economy, particularly through “Made in China 2025,” which not only aims to catch up to European levels, but has now specific targets and benchmarks to surpass advanced technological powers.