Economy

Optimistic over Europe

By Fu Ying (China Daily)
Updated: 2011-06-25 07:21

China and EU can and should contribute to international cooperation to maintain peace and expedite development

Finance ministers of the eurozone are worried these days. The European sovereign debt crisis shows no signs of abating. Criticisms are surging in the media and academia about the poor economic performance of some European countries. People in and outside Europe are asking: What has gone wrong with Europe? Is Europe heading toward integration or disintegration? Here in China, though, we are still optimistic about Europe.

A review of history can be used as a key to comprehending the current events. Europe has suffered the most from wars and turbulence in world history. And it was the people of Europe who, through the post-World War II European integration process and for the first time, brought about long-term stability to Europe.

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The yearning for enduring peace has brought European countries together and moved them forward from the European Coal and Steel Community to the Customs Union, Common Market, Economic and Monetary Union to a political union. Progress has been made at each step along the way, with each step being solid, though not at all easy.

The European Union (EU) is today, without doubt, the regional cooperation organization with the highest level of integration and most comprehensive strength.

The EU has long been a pioneer in the exploration of new types of state-to-state relations. Based on deep reflection of its suffering in the two world wars, Europe has decided to uphold the idea of win-win cooperation and follow the principle of equality and consensus building to dissolve differences and balance various interests. This new path of development transcends mere national interests and provides much food for thought for other countries as they seek proper approaches to regional cooperation.

The EU is an indispensable cooperation partner of China. Over the years, the EU has remained China's largest trading partner and one of its main sources of technology and investment. Having itself completed industrialization and urbanization, Europe has leading concepts and rich experience that are essential to China's scientific development.