Why is the 4th CEHED unique?
- By Jiang Shixue
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E-mail China.org.cn, October 23, 2013
These investigations would affect US$20 billion worth of Chinese solar panel exports, accounting for roughly 7 percent of China's total exports to the EU. More than 400,000 Chinese jobs are in danger.
Fortunately, the solar panel dispute was resolved in July 2013. Both sides made concessions, but the truth is trade disputes can only be solved through negotiation, not by escalating confrontation. Needless to say, solving the dispute has created a favorable atmosphere for the fourth CEHED.
Thirdly, it is the first HED since China shifted its leadership in March 2013. At the 18th National Congress of the Communist Party of China in November 2012, Xi Jinping replaced Hu Jintao as the Party leader, and at the annual session of the National People's Congress in March 2013 he became president of China and Li Keqiang was elected premier of the State Council.
The new leadership's foreign policy agenda is very similar to the previous generation, with only slight modifications. It is clear that China will continue to develop relations with both developed and developing economies, and the basic principle of its foreign policy will be the same. But two new notions have been added: "win-win" and "a new type of great power relationship"
In the past, China's diplomatic vocabulary only included "cooperation." "Win-win" means that China wishes to develop its relations with any country in the world on a mutually beneficial base.
There was no detailed explanation of the new type of great power relationship until President Xi Jinping met with U.S. President Barack Obama at the Annenberg Retreat in June 2013. The two leaders reportedly agreed to establish a new type of great power relationship between their two countries. Xi Jinping said that it meant no conflict and no confrontation, mutual respect and win-win cooperation.
According to Song Tao, China's vice foreign minister, the new type of great power relationship between China and the EU means mutual respect and learning from each other, comprehensive cooperation and common prosperity.
China has benefited greatly from the EU, so it can be expected that China's new leadership will continue to try to improve trade and economic relations with the EU. The coming HED will give the EU an opportunity to understand the new Chinese leaders better, and how to promote bilateral economic and trade relations between the two sides.
Despite the fact that China is determined to change its growth pattern by putting more emphasis on stimulating domestic demand, it will continue to rely heavily on the global market, and attach great importance to the EU market.
China's economic and trade relations with the outside world are a two-way street. As well as increasing its exports, China will also import. It is estimated that by 2015, China will import goods to the value of US$10 trillion. This is a golden opportunity for the EU to expand its market share to China. While strengthening economic relations, China and the EU will likely encounter more disputes or friction. Dialogue like the CEHED will contribute to better economic and trade ties between the two sides.
The author is a columnist with China.org.cn. For more information please visit:
http://www.china.org.cn/opinion/jiangshixue.htm
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