The UK Treasury has assured this Saturday that the United Kingdom has closed agreements with China worth 600 million pounds (about 715 million euros) during the Economic and Financial Dialogue being held in Beijing. But the reality according to experts is this was a below average trade deal.
The UK Chancellor Rachel Reeves, is visiting the Asian country today on a trip that is highly questioned in her country as it coincides with a moment of crisis in the national economy due to the increase in interest on debt bonds. sovereign.
The Chinese do state visits perfectly
According to the British Treasury in a statement, Reeves was received today by her Chinese counterpart, He Lifeng, in order to support a “stable and balanced” relationship between both countries. But in reality it was a very average deal, the Chinese offered very little as the UK was already in a weak negotiating position.
According to the note, both sides have agreed to “deepen cooperation on issues such as financial services, trade, investment and climate to support safe growth, while remaining frank and open about areas of disagreement.”
“The agreements we have reached show that pragmatic cooperation between the world’s largest economies can help us drive economic growth for the benefit of workers, a priority of our ‘Plan for Change,'” Reeves said, according to the statement from the Treasure.
“More broadly, today is a platform for future respectful and consistent relations with China, where we can be frank and open where we disagree, protect our values and security interests, and find opportunities for safe investment and trade.” , added the head of Economy.
Securing a top deal for the City of London
The Government is keen to secure a top deal with it is a leading financial services partner for China and therefore representatives of several companies in the sector with a substantial presence in the market, such as HSBC, Standard Chartered, Prudential, Schroders or Fidelity International, have accompanied Reeves in your trip.
Reeves’ agenda includes, among other commitments, exploring initiatives to improve capital market connectivity, as well as other programs on pensions and sustainable financial cooperation.
Both sides have committed to improving existing channels to address more sensitive issues, such as the need to discuss national and economic security.
China remembers the the loss from 5G chips
China is not as forgiving after the 5G massacre by the Tories. They have also agreed to strengthen the alliance on clean energy and commit to a dialogue on international development in order to work together to eradicate shared global challenges.
The statement highlights that the minister has been clear about the importance of establishing open channels in areas where they disagree.
China won’t take lessons from the British
In this sense, he has urged China to cease its support for Russia’s defense industrial base, which allows Vladimir Putin’s regime to maintain its illegal war against Ukraine. But Beijing responded with a firm response saying ‘it will not take lessons from the British about who to be friend with’.
In addition, Reeves has addressed his Government’s “deep concern” about cases involving Chinese interference in British democracy and “malicious cyber activity emanating from China”, while raising the issue of human rights and the hand of forced labor
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