China has developed a demanding financial services sector in its domestic market, with competitive service providers that have ventured onto the world stage. Nothing should prevent China from strengthening its political ambitions and committing to making WTO concessions, more with regard to the opening of financial markets to the EU, in order to allow the conclusion of the AICs. This would not only be reciprocal, but it would also promote the prospect of deeper trade relations with the EU. Although the rhetoric was a little more vivid, the fact that the EU is China`s main trading partner with more than a billion euros a day in bilateral trade is never far from the participants` idea. As a result, the trade deal between the EU and China and Pompeo`s companies in London shows two very different geopolitical paths, one is reasonable, the other is suicidal. After the end of the Cold War, relations with Europe were not as high a priority for China as relations with the United States, Japan and other Asian powers. However, interest in closer relations began to grow as economic contacts increased and interest in a multipolar system increased. Although China was first subject to an arms embargo after Tiananmen (see section below on the arms embargo), European leaders have eased China`s isolation. China`s growing economy became the center of many European visitors, and in exchange, Chinese businessmen began to travel frequently to Europe. Europe`s interest in China led the EU to become exceptionally active with China in the 1990s, with high-level exchanges. Trade between the EU and China grew faster than the Chinese economy itself and tripled in ten years, from $14.3 billion in 1985 to $45.6 billion in 1994. [13] At the same time, the deal was reached when US Secretary of State Mike Pompeo arrived in the UK to push London to take a harder line on China. Attacking the British government, Pompeo deliberately met with anti-Chinese lawmakers to discuss a point against Prime Minister Boris Johnson, a meeting described by the BBC as “tougher.” European Commission President Ursula von der Leyen said the Bloc was “really serious” with better access to the Chinese market and said: “China needs to convince us that it is worth having an investment deal.” Although the EU currently has a trade deficit with China, the EU exports European exports to other destinations; in fact, the EU`s overall trade balance is positive.

The EU is committed to opening up its trade relations with China. However, the EU wants to ensure that China acts fairly, respects intellectual property rights and respects its obligations as a member of the World Trade Organisation (WTO). The European Union and China are two of the largest distributors in the world. China is now the EU`s second largest trading partner after the US and the EU is China`s largest trading partner. .