Tuesday, June 1, 2021

EU HALTS INVESTMENT TREATY WITH CHINA

The European Parliament has halted ratification of a controversial investment treaty with China until Beijing lifts sanctions on European lawmakers, academics and think tanks. The move, a rare display of fortitude by an institution notorious for vacillation, reflects a hardening stance in Europe toward the Chinese Communist Party.

The ratification freeze, backed by all of the major groupings in the European Parliament, is significant for several reasons: it represents a turning point in EU-China relations, in that Beijing no longer calls the shots; it marks a shift in the balance of power in favor of the European Parliament at the expense of the European Commission; and it signifies the beginning of the end of Merkelism, and ideology which has, among other things, consistently prioritized commercial interests over human rights concerns, whether in China, Russia or Iran.


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