China's 'Wolf Warriors' Threaten EU For Following US' Export Restrictions

A Chinese diplomat advised Europe to disregard Washington's request to limit trade with Beijing. He cautioned that cutting business ties with China would be dangerous for any country.

China’s European Union (EU) ambassador, Fu Cong, noted a growing protectionist tendency in Europe and accused the US of working to disrupt relations between China and the EU.

Fu, in an interview to the Financial Times, questioned the sanity of anyone willing to abandon China's prosperous market, urging European politicians to avoid jeopardizing business relations as it could be their own downfall.

The ambassador criticized the Netherlands for giving in to US pressure and imposing restrictions on exports of high-end semiconductor-making technology to China. He suggested that Beijing may retaliate depending on the level of control.

In light of the tensions between the US and China over Taiwan and Beijing's backing of Russia, the US is urging its allies to adopt a tougher stance on China.

However, some European nations continue to remain invested in China.

For instance, German companies invested a record €11.5 billion in China last year, as per a report from the Cologne Institute for Economic Research, highlighting China's robust business relations with some European countries.

Simultaneously, the EU is planning to decrease its reliance on Chinese imports by enhancing the availability of crucial raw components and increasing the production of eco-friendly technology.

Additionally, new trade defence measures will enable the EU to respond to economic coercion and limit entry to Chinese state-subsidised firms or manufacturers engaged in forced labor.

China's diplomats, infamously known was 'wolf warriors' are known to flex their economic muscle to secure diplomatic gains, as evident from the days of the pandemic.

During the early months of the pandemic, as per a report in the South China Morning Post, the European Union diluted the report about Chinese state-backed disinformation campaign, as it feared it would lead to China withholding export of medical supplies to its member states.

According to the news report in SCMP, the initial version of the report stated that China was running a ‘global disinformation campaign’ to deflect the blame for the Corona-virus using both overt and covert tactics.

However, after the intervention of Beijing and a stern warning to diplomats of the EU in China, that part of the report was removed.

In the recent years, China has come to play a far more greater role in the continent, given that many states of the EU were still emerging from the 2008 financial crisis in the decade gone by.

China, since 2007, has invested more than $318 billion across Europe. Investments by state-owned enterprises of China alone constitute more than $165 billion worth of investments.

The United Kingdom saw more than 220 deals of around $70 billion, Italy and Germany had deals worth $31 billion and $20 billion respectively, across sectors ranging from technology to airlines.

Other states also have fairly high levels of investments. China has investments worth $5.8 billion in Norway, $7.3 billion in Sweden, $2.1 billion in Greece, $13.4 billion in France, close to $7 billion in Spain, around $8.6 billion in Portugal, and $9.2 billion in Finland.

In what can be termed as one of the biggest deals in Europe, China National Chemical Corp announced the takeover of pesticide manufacturer Syngenta AG, based in Switzerland, for $46.3 billion in 2016.

Across Europe, close to 360 companies were taken over, and partial or complete ownership was extended to four airports, six seaports, and 13 professional soccer teams.