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EU ‘suspends’ ratification of China investment deal after sanctions — Vincent Ni

Summary:
More Cold War 2.0 stuff. Blocs forming again.The European Commission has said that efforts to ratify a massive investment deal with China have been in effect suspended after tit-for-tat sanctions were imposed over China’s treatment of its Uyghur population in March.“We now in a sense have suspended … political outreach activities from the European Commission side,” said the commission’s executive vice-president, Valdis Dombrovskis, on Tuesday. He said that the current state of relations between Brussels and Beijing was “not conducive” for the ratification of the deal, which is known as EU-China comprehensive agreement on investment.The cost of "standing on principle."The European Union and China approved a controversial investment agreement in late December after seven years of marathon

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More Cold War 2.0 stuff. Blocs forming again.
The European Commission has said that efforts to ratify a massive investment deal with China have been in effect suspended after tit-for-tat sanctions were imposed over China’s treatment of its Uyghur population in March.

“We now in a sense have suspended … political outreach activities from the European Commission side,” said the commission’s executive vice-president, Valdis Dombrovskis, on Tuesday. He said that the current state of relations between Brussels and Beijing was “not conducive” for the ratification of the deal, which is known as EU-China comprehensive agreement on investment.

The cost of "standing on principle."
The European Union and China approved a controversial investment agreement in late December after seven years of marathon negotiations. The German chancellor, Angela Merkel, gave the talks a final push; the Chinese market is especially important to German carmakers and manufacturers who have a large presence in the country.

At the time, the pact was defended as a long-overdue opening to China’s vast market that would benefit European companies....

The Guardian
EU ‘suspends’ ratification of China investment deal after sanctions
Vincent Ni
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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