Has Europe finally awoken to CCP evil?

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As the Chinese illberal empire pushed outwards towards invading Taiwan, the pushback from the American liberal empire has been intensifying. First via Donald Trump’s unilateralism and now via the Biden Administration’s multilateral version.

The latter is much more dangerous for the CCP long term because it brings to bear many more markets for pressure.

It was, therefore, quite disconcerting that Europe, the supposed moral superpower, jumped the shark late last year when it rushed into a new mutual investment deal with the CCP, severely undermining the American liberal empire by allowing itself to divided.

Thankfully, today, things have improved, via Reuters:

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  • After just one quarter, the EU-China investment deal has been wound back via mutual sanctions arising from concern over the treatment of Uyhgers.
  • The European Parliament is yet to ratify the China deal. Left parties demanded China remove the sanctions before they would discuss the deal.
  • French MPs declared the deal very much in question as wolf warriors bullied as usual.

At some point, hopefully, even the soft-touch Europeans are going to have to fave the facts that the CCP is evil and you deal with it at your peril. China says and does whatever it wants. The US trade deal has so far delivered one third of promised volumes:

Art of the deal

Art of the deal

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The CCP will screw Europe in exactly the same way.

There is a distinct historical irony in this given, in the end, it may be the European decision on CCP engagement that determines the fate of the very US liberal empire that was born saving the Continent from a similar fascistic movement seventy years ago.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.