The European Union’s trade and investment policy in Asia: new challenges and opportunities in a changing global environment – or: following individual roadmaps

Bungenberg, Marc; Hazarika, Angshuman

doi:10.1007/s10308-017-0485-2

Cited by 11 publications

(8 citation statements)

References 9 publications

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“…Despite the political concerns of undue Chinese influence in Europe, European countries have enthusiastically embraced the new Belt and Road Initiative launched by China. Remarkably, China was able to keep European interests split similar to previous occasions (Bungenberg and Hazarika 2017) and to close individual deals with each Eurozone country, thus avoiding a group negotiation with the largest economic bloc in the world. This strategic initiative of economic statecraft (Reilly 2017) has two main aims.…”

Section: China-eurozone Trade Dynamicsmentioning

confidence: 88%

Financial and trade relationships between the Eurozone and China in the age of resilience

2021

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How did the financial and trade ties between China and the Eurozone develop in the aftermath of the Eurozone sovereign debt crisis? We analyze these trends until the start of the COVID-19 pandemic. Using data from the Bank of International Settlements (BIS) and the International Monetary Fund (IMF), we examine the financial and trade dynamics between the two currency areas and analyze the related risks and opportunities. The data point to several patterns. We find that financial volatility in China has been substantially greater than in the Eurozone. Even so, the largest and strongest Eurozone economies—France and Germany—have largely kept their investments in Chinese assets after a four- to sixfold expansion that started in the mid-2000s. In contrast, the financially weakest countries have accounted for the largest increases in trade volumes between China and the Eurozone. We also find that trade volumes are correlated with holdings of Chinese financial assets but assets rose at a substantially smaller rate than trade. These results show that China and the Eurozone continue to be asymmetrically integrated, whereby Eurozone countries still invest more timidly in Chinese financial assets compared to the aggressive trade and infrastructure partnerships initiated by China. We discuss the implications for future financial and trade integration between the two currency areas, which is bound to deepen in light of the Comprehensive Agreement on Investment.

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Section: China-eurozone Trade Dynamicsmentioning

confidence: 88%

Financial and trade relationships between the Eurozone and China in the age of resilience

2021

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“…Asia is Europe's largest trading partner; trade relations between the European Union and Asia have undergone rapid changes since the global economic and financial crisis (2008-2009) [30]. Rail trade between Asia and Europe accounts for 3-3.5% of the total intercontinental trade.…”

Section: International Trade Corridorsmentioning

confidence: 99%

China’s New Silk Road and Central and Eastern Europe—A Systematic Literature Review

Maró

Török

2022

Sustainability

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The ancient Silk Road was created to promote trade between China and Europe; however, at the end of the fifteenth century, the Silk Road and China’s dominant role began to decline, mostly due to the geographical discoveries. At the same time, today’s globalization and the development of rail technologies have once again put the creation of a New Silk Road (NSR) in the crosshairs of China. The aim of this study is twofold: on the one hand, to present the NSR Initiative launched by China and its various important elements. On the other hand, it seeks to map Central and Eastern Europe (CEE), focusing on the 17+1 Mechanism and the Visegrad Group (V4 countries), for the potential impacts of this initiative on these countries. To achieve a wide-ranging overview of the New Silk Road concepts, a comprehensive systematic literature review was conducted. The NSR could benefit most CEE countries and result in more and cheaper products due to the increase in delivery speed and the decrease in delivery time. The initiative’s success depends mainly on the stability and willingness to participate of CEE countries, especially the V4 countries, thus becoming logistics hubs in the region.

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“…According to several writers (Gavin & Sindzingre, 2009 Robles, Jr., 2014). However, the economic reasons also caused the EU to not negotiate a bilateral FTA with China due to a number of issues such as granting market economic status to China and anti-dumping (Bungenberg & Hazarika, 2017), further implementation of domestic economic reform in China, and increasing Chinese participation in the multilateral/plurilateral trading system (e.g., Trade in Service Agreements or Information Technology Agreements) (Mazur, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

“…It has not an FTA with Thailand as well because of the military coup in May 2014 (Mazur, 2017). Whereas, after Myanmar's change toward democracy in 2011, the EU was willing to negotiate an investment protection agreement with Myanmar (European Commission, 2017d in Bungenberg & Hazarika, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

Indonesia: Not a Priority in the European Union Bilateral FTA Negotiations with ASEAN

Assegaff¹

2021

Proceedings of the Asia-Pacific Research in Social Sciences and Humanities Universitas Indonesia Conference (APRISH 2019)

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This explains why Indonesia was not a priority for the European Union (EU) in negotiating a bilateral FTA (Free Trade Agreement). Qualitative analysis was used and data was collected in the form of books, articles, journalism, and official pages from relevant organizations. Foreign Policy theory was employed to define Indonesia's status in regard to the EU. Using this theory, the internal and external factors of the EU were analyzed. The analysis revealed that Indonesia was indeed not a priority for the EU when bilateral FTA negotiations began in 2010. The EU internal factors demonstrate the fact that Indonesia is not popular in Europe; the EU had experienced a trade deficit with Indonesia; the EU was occupied with the election of the European Parliament; the EU conducted economic relations with many other countries in the world, hence it had to divide its priorities; and the EU's perception of Indonesia related to environmental issues is also unfavorable. Whereas, there were also two external factors that greatly influenced the EU's decision not to prioritize Indonesia. The first was the condition of Indonesia-EU economic relations and Indonesia's domestic condition. Indonesia is not the EU's primary trading partner in ASEAN (Association of Southeast Asian Nations). The EU economic relations with other countries in ASEAN like Singapore and Malaysia are more significant than those with Indonesia. In terms of Indonesia's domestic condition, Indonesia is not as competitive as other countries in ASEAN like Singapore, Malaysia, and Thailand. In terms of GDP (Gross Domestic Product), Indonesia is also behind Singapore, Brunei Darussalam, Thailand, and Malaysia. Moreover, the policies and regulations issued by Indonesia in 2014 were also unfavorable for in terms of trade with the EU. Likewise, the investment climate in Indonesia is not more favorable than in Thailand, the Philippines, and Vietnam. For Indonesia, the EU is equally not a priority target for cooperation because Indonesia is focusing on cooperation with countries in ASEAN and China. As an international actor, the EU is also less known in Indonesia.

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The European Union’s trade and investment policy in Asia: new challenges and opportunities in a changing global environment – or: following individual roadmaps

Cited by 11 publications

References 9 publications

Financial and trade relationships between the Eurozone and China in the age of resilience

Financial and trade relationships between the Eurozone and China in the age of resilience

China’s New Silk Road and Central and Eastern Europe—A Systematic Literature Review

Indonesia: Not a Priority in the European Union Bilateral FTA Negotiations with ASEAN

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