Institute of European and American Studies (IEAS)European Union-English Version
E.U. & U.S. Public Policy Forum European Union

The Underlying Significance And Impact Of Investment Agreements Between The European Union And Mainland China

Author:Der-Chin Horng Research Fellow

Release Date:2015/01/14

Author:Der-Chin Horng Research Fellow
 
 
According to the European Union and the WTO, in 2011, Mainland China became the EU’s primary trading partner, the biggest source of imports (17.3%), and the second-largest export market (8.9%). Likewise, the EU has become Mainland China’s primary trading partner, largest export market (18.8%), and the biggest source of imports (12.1%), surpassing Japan, South Korea (9.3%), Taiwan, and the United States. With an economic growth rate of 7.7% in 2013, Mainland China is on track to become the world’s largest economy by 2023. The EU projects that in the next 10 to 15 years, 90% of global economic growth will be outside of Europe, specifically, one-third coming from Mainland China. Mainland China’s burgeoning middle class population will propel the nation’s status of “world’s factory” to “world’s market”, by which making it one of the EU’s most important export markets. Consequently, on October 18, 2013, the Council of the European Union passed the Negotiating Directive, which authorized the European Commission to negotiate investment agreements with Mainland China, and initiated talks after the EU-China Summit in November 2013. Undoubtedly, the negotiations reflect how important Mainland China’s market is to the EU. There is no hiding the fact that as the bilateral trade relations become stronger, it will profoundly affect the rest of the world, especially Taiwan. It is advisable that the Taiwanese government devise a course of action in order to respond accordingly.
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