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An assessment of the EU-Chinese bilateral relationship under the current economic and geostrategic context. Romania's position

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  • Iulia Monica Oehler-Sincai

Abstract

China stands out as a rising economic power. Its leap in international hierarchies is remarkable both in terms of GDP, international trade and investment flows and qualitative indicators. Based on these developments, China is increasingly assertive, both regionally and internationally. At the global level, China's assertiveness is revealed by the largest project ever launched by a single country: One Belt, One Road (OBOR). It represents "a strategic priority" of the Chinese leaders, motivated by economic and geopolitical factors, internal and external determinants. This initiative includes cooperation with over 70 countries and international organizations from Asia to Europe and Africa. At the same time, it involves growing coordination among the countries in terms of policies, increasing financial integration, promoting trade and investment, fostering connectivity through infrastructure projects, and encouraging the movement of people and cultural exchanges. This initiative, as well as the platform for cooperation with 16 countries in Central and Eastern Europe (16+1) have opened on the one hand new ways of enhancing the bilateral EU-China, but on the other hand an unjustified competition between EU countries for financial resources Chinese, although the EU-China strategic partnership, OBOR and 16+1 can benefit all countries involved, given their competitive advantages. Romania, as a member country of the EU and participant at the platform 16+1 should take into account both such new opportunities and the need for an active cooperation with all countries.

Suggested Citation

  • Iulia Monica Oehler-Sincai, 2016. "An assessment of the EU-Chinese bilateral relationship under the current economic and geostrategic context. Romania's position," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 8(4).
  • Handle: RePEc:iem:journl:v:8:y:2016:i:4:id:2822000009635007
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    File URL: http://iem.ro/rem/index.php/REM/article/view/533/611
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    More about this item

    Keywords

    China; EU; strategic partnership; One Belt; One Road (OBOR); 16+1;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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