The rapid development of China has led to the expansion of economic ties with the EU . Between 2000 and 2019, trade volume increased almost eightfold (to 560 billion euros). The EU is “critically dependent” on China’s exports in 103 categories of goods and products, according to research by the MERICS Institute.
China turned out to be the EU’s second most important trading partner after the United States. Europe needs Chinese imports in the pharmaceutical, chemical and electronics sectors, the report said. According to experts, there are 659 categories of goods in which the EU “strategically depends” on supplies from China.
Strategic addiction analysts call a situation in which EU countries export more than 50 percent of any product from China, and critical – when restriction of access to a certain category of goods can undermine the country’s economy or make it vulnerable.
In June, German Foreign Minister Heiko Maas urged the European Union to create a single strategy towards China. Maas called China a future “superpower.” But the minister believes that the EU countries need to build relations with China based not only on economic, but also on political considerations.