China Is Now The EU's Largest Trading Partner

China EU Photo:VCG 

Global Times: China becomes EU’s largest trade partner 

China has become the EU's largest trade partner for the first time, latest data shows, highlighting that the economic ties of the close comprehensive strategic partnership between China and the EU are intertwined with each other's industrial chain. 

The data also discredits some media reports that Beijing's hopes of using Europe as a counterweight to the US have faltered, as China faces rising anger over its policies and behavior including trade. 

Chinese experts said the noise will not have any impact on sound trade relations between the two economies. Read more .... 

WNU Editor: I do not know how long this will last. China is not only replacing the EU in the global supply chain .... China Fast Replacing Europe In Global Supply Chain (Forbes), but China also enjoys an unsustainable but massive trade deficit with the EU that was $164 Euros in 2019 (link here), and is projected to be even more in 2020. 

I for one will not be surprised if in 2021 the EU will start to impose tariffs and trade restrictions on Chinese goods.

Update: China has also replaced the U.S. as the top foreign market for companies across Asia-Pacific .... China Beats U.S. as Top Market for Asia-Pacific Firms, HSBC Says (Bloomberg).

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