Editorials

European choices

(China Daily)
Updated: 2011-05-14 07:25

The second round of the China-EU strategic Dialogue, held in Hungary on Thursday, is the latest move by China and the European Union to strengthen mutual trust and step up pragmatic cooperation at bilateral and multilateral levels.

With the general picture of bilateral ties in good shape now, a substantial exchange of views on issues of mutual concern will help officials on both sides grasp the dynamics of bilateral relations, properly handle their differences and set agendas for more cooperation in the next stage.

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At a time when the world is facing a host of challenges, ranging from uncertainties in economic recovery to political turbulence in North Africa and West Asia, high-level communication between the two important world powers could expand their agreements and contribute to international efforts in meeting those challenges.

With increasing interdependence between the two sides, China-EU trade has thrived in recent years. The EU remains China's largest trade partner, while China is the EU's second largest. Last year, bilateral trade volume was close to $480 billion. And in the first three months of this year, it reached $123.7 billion.

Since the outbreak of the debt crisis in the EU in 2009, China has been buying bonds from Spain and other EU countries to stabilize the eurozone. Chinese leaders have on many occasions assured their EU counterparts that China will continue buying the bonds despite growing concerns on the debt crisis.

Besides, the increasing presence of Chinese tourists with fat wallets in Europe has helped raise the hopes of the EU's consumer market.

For the steady growth of a comprehensive strategic partnership between China and the EU countries, the two sides should deepen political mutual trust and respect each other's mutual concerns and core interests.

The EU's arms embargo on China and its reluctance to recognize China as a market economy remain the major political obstacles in bilateral relations. It is a pity that no major breakthrough has been achieved on the issue at the second strategic dialogue.

China regards the lifting of the two obstacles as a touchstone of the EU's political will to promote mutual trust. The EU's arms embargo, imposed in 1989, is outdated and embodies deep discrimination against China and, hence the 27-member bloc should lift it as soon as possible.

On China's market economy status, the EU should understand the issue concerns healthy and sustained development of Sino-EU economic links, which would benefit not only the two economies, but also global economic development.

The United States has already pledged - at the Sino-US Strategic and Economic Dialogue earlier this week - to work toward recognizing China's market economy status in an expeditious and comprehensive manner. And the EU has no reason to drag its feet on the issue.

(China Daily 05/14/2011 page5)