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Opinion
May 10, 2019 www.intellinews.com I Page 25
emerge. Given the low comparative trade shares of Western Europe and CESEE with China, this scepticism may even overreach, neglecting future development opportunities.
Recommendations
A more structured, realistic approach by Beijing towards CESEE would be to build upon the foun- dation it has already established. Developing a more balanced economic partnership would be key in this regard, whether by promoting exports from CESEE to China or by increasing the trans- parency of investments or investment capital. Some practical hurdles would remain; for exam- ple, the issue of euro financing in CESEE could be more important than in other countries where China is economically engaged (such as Asia or Latin America).
If China is to develop a strategic presence in CESEE, especially the Western Balkans, Beijing and the EU must demonstrate the complementa- rity of BRI in the region and European interests. For example, China could show in practice that its economic expansion plans (in part) fit with EU concepts of regional integration and cooperation. An important vehicle for this could also be the increasing financing of regional projects involving the AIIB. A lot of key EU states are members of this IFI, including in CESEE.
Yet in a world characterised by increasing polarisation – and where multilateralism seems rather retro – it is clear that there is nothing inevitable about the envelopment of CESEE by the Chinese dragon.
XVI CIS, Baltic States and Caucasus
Bond Congress
Batumi June 13—14, 2019
Hosted by:
Lead partners:
O cial partners:
Sponsors:
Sponsor of gala dinner:
GROUP OF COMPANIES
With contribution from: