CONTENT: Blog posts: Ukraine-Russland: Man schlägt den Sack, … // News: Verbale Eskalation // Countermovements: Controversial Chinese mining in Zimbabwe // Readings: Europa zwischen USA und China / China’s Overseas Development Programm
In the West, China is currently seen as an important driving force behind the global economic recovery after the Corona crisis. But can it continue to fulfil this role – or is “the future of globalisation with China at stake”, according to the European Chamber of Commerce in China? The background to this apprehensive question is the “new economic model” that state and party leader Xi Jinping announced in May 2020, the ‘Dual Circulation Strategy’, DCS.
If the ‘8th Forum on China Africa Cooperation’ at the end of November was an indicator of the intensified competition between the United States, Europe and China for Africa, Beijing kept a fairly low profile. The limited media attention given to the meeting, which was scheduled only at the ministerial level, gives the impression that most observers wanted to quickly and graciously spread the cloak of silence over FOCAC8 and its results.
China’s authorities report soaring foreign trade figures, despite of the on-going Corona pandemic. A further shift towards the BRI countries is emerging, a trend that plays into the narrative of the ‘Dual Circulation Strategy’ announced this summer. This “new development model” intends, on the one hand, to further enhance the internal economy, while ‘external circulation’ refers to further integration into the global economy through foreign trade and investments.
Hardly anyone outside Asia and academic circles is really looking at Southeast Asia – except just now, when the world’s largest free trade zone was agreed with RCEP. But this is a passing interest that is also mainly focused on the question: What does this mean for China, what games is Beijing playing? And in Europe it raises the anxious expectations: What does this mean for our economy, our companies, our exports?
The Corona crisis may well be “China’s Chernobyl”, suggested a columnist in the journal ‘The Diplomat’. Will China face a similar fate as the Soviet Union did five years after the nuclear disaster in the Ukraine? The Corona crisis is a serious challenge for the Beijing government. It is jeopardising its ambitions to transform the People’s Republic into a full-fledged world power by 2049, the 100th anniversary of its founding.