A win-win for Britain and China
- By Tim Collard
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E-mail China.org.cn, October 24, 2015
On the commercial side, things can move rather more quickly, and long-prepared deals have now been firmly signed. The centrepiece of the visit was the signing of a deal to build a nuclear power plant at Hinkley Point, in southwest England, in which China's leading nuclear power construction company CGN will work together with French company EdF. China will be responsible for one-third of the project. This is quite a revolutionary development, and has received some criticism from within Britain. There are some who have never quite reconciled themselves to the safety of nuclear power, and others who fear the concentration of the industry in foreign hands. But the logic of the deal is compelling: safeguarding the energy supply for future decades is essential, and China has recently demonstrated vast experience in construction and technology. And, as Zheng Dongshan, senior vice-president of CGN, told the British media, China wishes this project to be a bridgehead leading to further deals in Europe, and must establish her reputation as a reliable partner.
Further business deals announced bring the total value of contracts achieved to roughly 40 billion pounds (US$62 billion). The two leaders also signed an agreement on cyber-security and hacking, parallel to the one Xi signed with President Obama on last month's visit to the USA.
The President must have returned with the conviction that Britain is taking relations with China very seriously. Obvious differences, such as those regarding human rights, have been carefully played down during the visit and its preparation. Promises of increased cooperation across the board have been made and appreciated. The realisation of these promises will, of course, be the touchstone for the development of the relationship in the medium and longer term.
So, hopes are high for the inception of a genuine "golden decade" of ties with China. There remain differences of strategic policy and political aims between the two countries; but it is to be hoped that the goodwill generated during this visit will provide sufficient momentum to overcome them. There are great prizes on offer financially, commercially and in terms of the global strategic balance; it is easy to see why Britain should have rolled out "the reddest of red carpets" for the Chinese President, and let us hope that this signals a long future of friendly cooperation.
The writer is a columnist with China.org.cn. For more information please visit:
http://www.china.org.cn/opinion/timcollard.htm
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