The EU-China Economic Relations: a Harmful Competition or a Strategic Cooperation?

In: Polish Political Science Yearbook, Band 2, Heft 46, S. 172-189

Abstract

The People's Republic of China currently possesses the second biggest national economy in the world, smaller only to that of the United States. It is also a matter of time for China to become the greatest economic power, at least regarding share in aggregated global GDP and the sphere of international trade. Growing engagement of China in global economic development and its dependence on other participants of trade exchanges have made this country a more 'responsible shareholder' of the international economic system. China has a great development interest in upholding a stable world economic situation, and especially in proper economic relations with the United States and the European Union, on whose markets its healthy development largely depends. Whether China will soon become a "mature, responsible and attractive superpower" depends to a significant degree not only on its efforts but also on proper relations with major trade and investment partners around the world. It seems that mutually beneficial economic relations between the PRC and the European Union (founded on mutually beneficial and strategic cooperation and not on serious and opaque competition) constitute one of the key factors determining this scenario's validity. Unfortunately, for the time being, many problems arise in this relationship. They come from both sides requiring a proper diagnosis, as well as a scientific analysis including both assessment and prognosis. The presented scientific article tries to meet these expectations.