As a result, the trade agreement between the EU and China and the companies of Pompeo in London show two very different geopolitical paths, one is reasonable, the other is suicidal. Since 2012, China has been trying to persuade the European Union to accept the adoption of bilateral free trade agreements. China lacks both Trans-Pacific Trade Agreements (TPP) and Transatlantic Trade Agreements (TTIP) and wants to pursue a similarly large “in” pact itself so as not to lose trade flows or to meet new “global” standards on the part of others. For their part, European companies want greater openness in China and a level playing field for domestic companies, especially state-owned enterprises. Germany has a very strong focus on the investment contract with China. This will be part of Merkel`s political legacy and will serve as the basis for a free trade agreement in the future. This point seems very distant indeed. The European Union recognises the need to improve and strengthen its economic relations with China and wins a revolutionary trade deal, while the UK has opted for Brexit and Trump, two steps that will have a significant long-term impact on the country`s growth, competitiveness and prosperity. In doing so, he dispelled London`s concerns over the Harry Dunn extradition case and went into the airs for a press conference with his counterpart Dominic Raab in China, who had to deny to the media that Britain was not “heavily armed” via Huawei. This is done in the midst of discussions on a trade agreement between the two countries. The European Council and China`s diplomatic representation to the European Union announced on Monday the signing of a bilateral trade agreement on “geographic indications” between the two megamarkets, relating to the protection of intellectual property of products of particular geographical origin. The EU rightly refers to the agreement of the first phase, because financial service providers in the EU and the United States have the same complaints about access to the Chinese financial market.
What is embarrassing is that the concessions between China and the United States are reciprocal, which means that they will not extend to the EU or other third parties. There is a dispute over textile imports into the EU (bra-wars) in which domestic European producers lose chinese imported products at a lower cost. The EU and China have finally reached an agreement to end the “textile conflict” that has poisoned their relations for several weeks.