The UK is taking significant steps to enhance its economic and trade ties with the Chinese mainland in the post-Brexit landscape. British Foreign Minister David Lammy is currently in Beijing for a two-day visit, aiming to foster closer cooperation between the two nations.
In a recent statement, the Chinese Foreign Ministry emphasized its readiness to collaborate with the UK, highlighting the importance of openness, mutual benefit, and long-term development in China-UK relations.
Despite recent strains in their relationship, particularly concerning issues like Hong Kong and Taiwan, Prime Minister Keir Starmer has outlined a balanced approach. He stated that the UK will seek to cooperate on shared interests such as achieving net zero emissions and compete where national interests diverge.
Adair Turner, a prominent figure in the UK's financial sector and a member of the House of Lords, emphasized the necessity of maintaining economic relations amidst global geopolitical tensions. Turner highlighted the critical role of China in developing new clean technologies and advocated for collaboration in areas like battery technology, which he believes can transform global energy systems.
Beyond bilateral relations, China is currently engaged in a dispute with the European Union over tariffs on electric car exports. Trade experts are concerned that this conflict could escalate into broader trade penalties. European Commission Chief Ursula von der Leyen has expressed a desire for a level playing field and is negotiating with Beijing on solutions such as price commitments and EU investments.
Germany, the EU's largest economy, has expressed hope for an agreement by the end of October. In this context, Adair Turner has urged the UK to adopt a more open approach to tariffs, citing the example of Chinese-made solar panels. He suggested that while certain tariffs may be justified under WTO rules, they should not be used to stifle trade. Turner also pointed out that China's economic growth was significantly supported by welcoming inward investment from the West, a strategy he believes the UK should emulate in its dealings with Europe.
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Former UK business chief urges stronger trade ties with China
cgtn.com
