The Results of Economic Co-Operation Between the EU and China Amid the COVID-19 Pandemic

Zakić, Katarina and Sun, Meixing (2021) The Results of Economic Co-Operation Between the EU and China Amid the COVID-19 Pandemic. In: Europe in changes: The old continent at a new crossroads. Institute of International Politics and Economics, Belgrade; Faculty of Security Studies at the University of Belgrade, Belgrade, pp. 445-463. ISBN 978-86-7067-282-6

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Abstract

The global Covid-19 pandemic has profoundly altered the course of economic history and development, and it is significant to observe and analyse the various facets of those changes. The main aim of this paper is to analyse the results of economic co-operation between the European Union (EU) and China amid the coronavirus outbreak. To that end, the paper examines trade and investments patterns before and during the Covid-19 pandemic. Data from Eurostat, Chinese Ministry of Commerce (MOFCOM) and Rhodium Group, from 2010 to 2020, are used for descriptive statistical analysis. After suffering many setbacks in Q1 and Q2, the volume of volume of trade between the EU and China increased in Q3 2020, but its structure changed, with medical supplies becoming its primary component. Foreign direct investment (FDI) flows are low relative to the sizes of both markets. On the other hand, the EU-China Comprehensive Agreement on Investment, expected to be signed in 2021, will in all likelihood increase FDIs.

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