Title page
Contents
Summary 3
Introduction 4
Economic context 4
Trade 5
Investment 9
Technology 12
The elephant in the room 12
European issues with China 14
Market access 14
Chinese competition 15
Politics complicating mercantilism 16
Formulating China policy in the EU 17
The EU’s China policy 20
Pursuing strategic autonomy 20
The China toolbox 21
A risky strategy 22
The CAI case study 25
Transatlantic cooperation 26
Acknowledgments 29
Figure 1. European countries' goods trade with China 2019 6
Figure 2. European countries' goods exports to China and US 2019 7
Figure 3. European countries' services exports 2018 8
Figure 4. Sources of FDI stock in the EU in 2019 10
Figure 5. European outward FDI stock in 2019 11
Figure 6. German bilateral current-account balances 13