Vienna institute for international economics, recently reported: because the trump protectionist attitude of the government, the European Union are gradually switched their attention to China's investment plan and comprehensive trade agreement with Japan.
According to the report, the new us administration is returning to protectionism, out of the completed negotiations the trans-pacific partnership agreement (TPP), shelved the transatlantic trade and investment partnership agreement (TTIP) negotiations. This has led countries to start looking for alternative alternatives. At the same time, it is precisely this reason that the European parliament has accelerated the ratification of the Canadian - eu comprehensive economic and trade agreement (CETA) and the promotion of a comprehensive free trade agreement between the eu and Japan.
The report notes that the eu and Japan seem to pay more attention to China's "One Belt And One Road" initiative, as the us ignores the opportunity to set global standards. Many eu members want to make money on One Belt And One Road.
Report also stressed that as the U.S. out of TPP, the association of south-east Asian nations (asean) and the other six, including China, Japan, Asian economies to participate in the countries in the association of south-east Asian nations (asean) regional comprehensive economic partnership agreements as the only option, Asia's trade is expected to accelerate the integration process. China, Japan and South Korea are also holding trilateral trade talks. The report concluded that China and Asia are becoming the center stage for global trade development and that the eu's trade priorities could also shift to the east.
2017-08-22 12:01:44 source: economic daily