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6/1/17

The Global Order Shuffling The Cards: China and Europe are moving forward without Trump

The EU looks ahead at the future without TRUMPLAND
Beijing is in prime position to capitalize on major policy fissures that have emerged between Europe and the Trump administration on climate, trade and defense.

The new dynamic will be on full display on Thursday (June 1)  in Brussels, when Chinese Premier Li Keqiang meets with EU counterparts at the annual EU-China Summit. Hours later, President Trump is expected to announce the withdrawal of the U.S. from the Paris climate agreement.

"If peace and prosperity are the object of the global economic order, the Trump administration offers neither to Europeans," wrote analysts at High Frequency Economics, a research firm. "A new axis of power, based on economic power, will form between Europe and China if the U.S. continues to shirk its role as global leader."

Beijing appears to be chomping at the bit, having asked for the summit to be moved forward to June.

A closer relationship between the two giant economies is easier said than done, however. There are major questions over the compatibility of the economic systems promoted by Europe and China, as well as differences over flashpoint issues including human rights.

"If peace and prosperity are the object of the global economic order, the Trump administration offers neither to Europeans," wrote analysts at High Frequency Economics, a research firm. "A new axis of power, based on economic power, will form between Europe and China if the U.S. continues to shirk its role as global leader." 

Note EU=Digest: "The United States and Europe appear to be hurtling toward a messy breakup. China, meanwhile, is ready to pounce. The EU, however, better not jump in bed with China immediately, before making certain all bases are covered", said an EU Commissioner.

EU-Digest

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