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The EU, China & the Financial Crisis: How a Shift in Economic Power has affected the EU-China Human Rights Dialogues, the EU’s arms embargo on China, and China’s Quest for a Market Economy StatusChina’s strong economic prosperity and the EU’s economic hardship due to the financial crisis have generated tensions and uncertainty within the EU-China bilateral relationship. China’s view of the EU as a strong economic superpower has began to crumble, while it has become more assertive in international affairs. The effects of the financial crisis have made the EU realise that it might need China more than China needs the EU. A shift in economic power to China’s favour within the EU-China interdependent economic relationship could result in the EU having less power and influence in its bilateral dealings with China, while China would be able to exert pressure on the EU for obtaining what it wants.<br> <br> The aim of this paper is to analyse what implications the financial crisis has posed on the EU-China interdependent economic relationship and what consequences this, in turn, has had on the following bilateral issues: the EU-China Human Rights Dialogues, the EU arms embargo on China, and China’s strive for Market Economy Status recognition by the EU. By applying theoretical instruments derived from interdependency theory, the overarching results show that the financial crisis has further exacerbated the economic power asymmetry between the EU and China to China’s favour. However, the effects of the financial crisis on the cases are contrasting. The HR Dialogues has experienced the most drastic changes, where China no longer has an incentive in upholding the talks with the EU. The financial crisis has made it expensive for the EU to uphold the arms embargo and keeps the EU indecisive. However, the financial crisis and the economic power asymmetry have, surprisingly enough, not generated any significant effects on the MES case.
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The EU, China & the Financial Crisis: How a Shift in Economic Power has affected the EU-China Human Rights Dialogues, the EU’s arms embargo on China, and China’s Quest for a Market Economy StatusChina’s strong economic prosperity and the EU’s economic hardship due to the financial crisis have generated tensions and uncertainty within the EU-China bilateral relationship. China’s view of the EU as a strong economic superpower has began to crumble, while it has become more assertive in international affairs. The effects of the financial crisis have made the EU realise that it might need China more than China needs the EU. A shift in economic power to China’s favour within the EU-China interdependent economic relationship could result in the EU having less power and influence in its bilateral dealings with China, while China would be able to exert pressure on the EU for obtaining what it wants. The aim of this paper is to analyse what implications the financial crisis has posed on the EU-China interdependent economic relationship and what consequences this, in turn, has had on the following bilateral issues: the EU-China Human Rights Dialogues, the EU arms embargo on China, and China’s strive for Market Economy Status recognition by the EU. By applying theoretical instruments derived from interdependency theory, the overarching results show that the financial crisis has further exacerbated the economic power asymmetry between the EU and China to China’s favour. However, the effects of the financial crisis on the cases are contrasting. The HR Dialogues has experienced the most drastic changes, where China no longer has an incentive in upholding the talks with the EU. The financial crisis has made it expensive for the EU to uphold the arms embargo and keeps the EU indecisive. However, the financial crisis and the economic power asymmetry have, surprisingly enough, not generated any significant effects on the MES case.