In what could prove to be a big blow to China, the European Parliament is set to pass a motion aimed at freezing all European investment agreement in the wake of "baseless and arbitrary" sanctions on EU lawmakers earlier this year, Politico reported. The news organisation also said that a draft motion, which is ready, has also underlined the need for the European Union (EU) to step up coordination with the US to deal with China.
However, the move will not impact EU’s other investments planned in Asia outside China.
Not just that. According to the report, any trade deals with Taiwan "should not be held hostage" by the deal with Beijing.
Politico added that “if passed, the vote is expected to deal a further blow to initial expectations that the deal – seven years in the making and aimed at opening up the Chinese market – could enter the ratification process in a few months’ time.”
In February, India Narrative in its report said that “even as China signed the Comprehensive Agreement on Investment (CAI) with European Union, the road ahead for the two could be bumpy. The agreement envisages roadmap for better trade linkages between the two.”
In March, EU imposed sanctions against four top Chinese officials and a company after human right abuses against Uighurs in the Xinjiang region. Within hours, China retaliated by drawing up its own blacklist of 10 individuals comprising EU parliamentarians, research scholars, and institutions and thereby imposing counter-sanctions on them.
However, reacting to China’s decision, the European Parliament said, “Regarding the situation in China, we reiterate our serious concerns about the abuses in the country, in particular the persecution of the Uighur minority in the province of Xinjiang, and the repression of all dissenting and opposition voices. We firmly condemn these acts and the Chinese government’s recent attempts to interfere in the democratic life of our nations and our European Union.