Economy
At the end of the “Golden relations” China to London?
For some years the British government had a close relationship to Beijing to lure mainly Chinese investment into the Kingdom. However, with the Brexit, the cards are shuffled now.
It is primarily Chancellor of the exchequer, George Osborne, had made in the past few years, the economic relations with China are increasingly close. Of the “Golden relations” was the speech, Chinese billions in investments flowed mainly into the energy sector and the property industry in the UK. Even though some critics about the “Osborne doctrine” mocked cozying up echauffierten to China: China’s business leaders and politicians have been courted on the island. During his state visit to Britain at the end of October 2015, President Xi Jinping (see article image li.) even had the honor of then-Prime Minister David Cameron to Ale, Fish and Chips in a village Pub, in the County of Buckinghamshire are invited to, a good hour’s drive from London.
At that time, China’s government had made the chief very clear that his government wants the whereabouts of the United Kingdom in the EU. No wonder, because the middle Kingdom is on the island of billions of interests. In the past 15 years, the UK has become the most important destination for Chinese investment in the EU. Since the year 2000, to 12.2 billion euros flowed to the UK – almost twice as much as Germany, with 6.8 billion euros. In return, the United Kingdom for the interests of Beijing, made its European partners. But how to do it more in the future with this British-Chinese symbiosis, if the UK is no longer part of the EU?
China’s best friend in the EU
Golden relations: Xi Jinping on a carriage ride with the Queen
A Western Diplomat in Beijing puts it in an interview with the Washington Post: “The leadership in the United Kingdom, has always said that they are the guys who put China’s interests in the West and in the European Union.” Since the prospects of a Brexit to be “pretty bad news for China.”
Chinese investors will take a negative attitude towards the British market, writes Zheng Chaoyu. “This will be a blow for the UK investment market,” believes the Economist of the people’s University of Beijing.
It was a Situation in the United Kingdom, China and the EU could lose, says the commentator of the state-run Global Times: “It’s a lose-lose Situation indicates.” In the future, the UK would be in a time of insignificance back to the catapults, prophesied to the Chinese state media: “The United Kingdom is just over 300 years old. In its heyday it was known as a world Empire in which the sun never went under, with colonies all over the world. Now it returns to where it was before.”
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City of London loses billion (01.07.2016)
For China, the Brexit is another indication that the power center of world politics moves even further to Asia, says Jan Gaspers, head of the EU-China Policy Unit at the Mercator Institute for China studies (MERICS) in Berlin: “Europe has lost time in the Chinese perception.” China’s political elites are worried that the British vote could cause a Domino effect in the other member States of the EU, withdrawal, Gaspers. A further decline in the EU will be set in China in the first place with a shrinking domestic market and the restriction of the flow of Chinese Goods within Europe, Gaspers. “Beijing fears a collapse of the Eurozone. The expected exchange rate fluctuations would also have a negative impact on the trade of Chinese goods in Europe. In addition, the Chinese diplomacy has no interest in using more in the future, resources to understand the views of individual European countries.”
Visit the Wholesale Investor: Chancellor of the exchequer George Osborne at the end of September 2015 in Beijing
That now, the economic relations between China and the EU deteriorate dramatically, Michael Schaefer, was from 2007 to 2013, the German Ambassador in Beijing, is rather unlikely. “Of course, will reduce the bilateral economic exchange with the non-recurrence of the UK, which is the second largest trading partner of the Chinese in the EU. But the British contribution to the whole of the EU-China economic exchange is not nearly as substantial as the German share, which alone accounts for more than one-third of the total European,” says Schaefer, who is now working as the Chairman of the BMW Foundation Herbert Quandt.
The Brexit-the impact of aftermath of the Sino-British trade, is not yet in sight. It all depends on whether the UK will remain in the single market. British businesses must, however, dispense with the representation by the influential EU chamber of Commerce in Beijing. “It is difficult to see how British companies will now be better off, if this support is missing,” – said in a statement, the chamber regrets the Brexit “deep”.
The Last Trump Financial Centre Of London?
Chinese roots: the Hong Kong Shanghai Banking Corporation (HSBC) in London
Hardly one observer expected that the financial centre of London by the Brexit away Scot-free when it comes to the future strategy of China. “Beijing has been set deliberately on London as a major financial centre in Europe, however, already obvious Soft in the direction of Frankfurt. It is expected that London will continue to occupy the top spot for China when it comes to the global financial market,” believes Michael Schaefer. “Frankfurt is likely to continue to gain importance as China is likely to place in the next few years in the European market-significant investments.”
Philippe Le Corre from the Brookings Institute in the US capital of Washington, summarizes his view of things in a sentence: “China will not return to the United Kingdom totally to the back, but its future importance, according to treat: a medium-sized economy with a strong focus on financial services, the industry is hardly worth talking about.”