An assessment of the EU-Chinese bilateral relationship under the current economic and geostrategic context. Romania's position

Iulia Oehler-Şincai

Revista de Economie Mondiala / The Journal of Global Economics, 2016, vol. 8, issue 4

Abstract: China stands out as a rising economic power. Its leap in international hierarchies is remarkable both in terms of GDP, international trade and investment flows and qualitative indicators. Based on these developments, China is increasingly assertive, both regionally and internationally. At the global level, China's assertiveness is revealed by the largest project ever launched by a single country: One Belt, One Road (OBOR). It represents "a strategic priority" of the Chinese leaders, motivated by economic and geopolitical factors, internal and external determinants. This initiative includes cooperation with over 70 countries and international organizations from Asia to Europe and Africa. At the same time, it involves growing coordination among the countries in terms of policies, increasing financial integration, promoting trade and investment, fostering connectivity through infrastructure projects, and encouraging the movement of people and cultural exchanges. This initiative, as well as the platform for cooperation with 16 countries in Central and Eastern Europe (16+1) have opened on the one hand new ways of enhancing the bilateral EU-China, but on the other hand an unjustified competition between EU countries for financial resources Chinese, although the EU-China strategic partnership, OBOR and 16+1 can benefit all countries involved, given their competitive advantages. Romania, as a member country of the EU and participant at the platform 16+1 should take into account both such new opportunities and the need for an active cooperation with all countries.

Keywords: China; EU; strategic partnership; One Belt; One Road (OBOR); 16+1 (search for similar items in EconPapers)
JEL-codes: E22 E44 E61 F02 F14 F21 O52 O53 (search for similar items in EconPapers)
Date: 2016
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