Perspective Directions of Multilateral Cooperation between the EU and the PRC in the Context of Stabilizing the Global Financial System

  • Gulnara U. BIRIMKULOVA Department of Regional Studies L.N. Gumilyov Eurasian National University, Nur-Sultan, Kazakhstan
  • Bekkozha ZHYLKYBEKULY Department of Chinese Philology L.N. Gumilyov Eurasian National University, Nur-Sultan, Kazakhstan
  • Raihan TASHTEMKHANOVA Department of Regional Studies L.N. Gumilyov Eurasian National University, Nur-Sultan, Kazakhstan

Abstract

The relevance of the study is determined by the fact that the European Union and China are two powerful trading partners with the largest economies in the world. China is now the second EU trade partner after the United States. The authors show that the EU intends to further extend trade and economic relations with China, but at the same time strives for more reliable guarantees of trade with China to comply with fair and transparent trade rules, and to fulfill bilateral obligations under the WTO. The novelty of the study is determined by the fact that negotiations on a well-rounded investment agreement between the European Union and China were analyzed in the framework of EU-China cooperation. The authors determine the need for a gradual liberalization of investment and the elimination of restrictions for investors in each other’s markets. This will provide a simpler and safer legal basis for investors from both sides, providing them with reliable protection and their investments. The authors found out that China planned reforms in the economic and financial sectors to strengthen trade and economic cooperation with the EU.

References

[1] Aliberti, M. 2015. Europe and China in Space: Constraints, Opportunities, and Options. Springer International Publishing.
[2] Daojiong, Zh. 2016. Energy Security in EU-China Relations: Framing Further Efforts of Collaboration. Palgrave Macmillan UK.
[3] El-Agraa, A.M. 2007. The EU/China relationship: not seeing eye to eye? Asia Europe Journal, 5(2): 193-215.
[4] Espa, I. 2018. Climate, energy and trade in EU-China relations: synergy or conflict? China-EU Law Journal 6(1): 57-80.
[5] Farnell, J., and Crookes, P.I. 2016. Conclusion: Optimism or Pessimism about the Future of EU-China Economic Relations? Palgrave Macmillan UK.
[6] Fulda, A., and Fabian, H. 2015. Reinvigorating the EU-China Strategic Partnership. Palgrave Macmillan UK.
[7] Julião, M.S.D.S., Da Costa, I.C.A. and Bezerra, Â.C.S. 2018. Factors generators of motivation and demotivation in the undergraduates of chemistry of a public university in the Brazilian northeast. PeriodicoTcheQuimica, 15(30): 35-47.
[8] Junbo, Ji., and Zhimin, Ch. 2016. China and the EU in the UN. Palgrave Macmillan US.
[9] Li, J., et al. 2017. China-EU Political Relations. Springer Singapore.
[10] Mergenthaler, S. 2015a. The Development of EU Policies towards China. Springer Fachmedien Wiesbaden.
[11] Mergenthaler, S. 2015b. Analysing the Operational Level of Cooperation: A Framework. Springer Fachmedien Wiesbaden.
[12] Pacheco Pardo, R. 2014. EU-China relations in financial governance: cooperation, convergence or competition? Asia Europe Journal, 12(1): 63-77.
[13] Paulo, M. 2018. China-Europe Investment Cooperation: A Digital Silk Road. Springer Singapore.
[14] Sausmikat, N. 2015. Opportunities and Challenges for EU-China Civil Society Collaboration. Palgrave Macmillan UK.
[15] Scherwitz, E. 2016. The EU’s approach towards Asia: regional cooperation and regional conflicts in the past and today. Asia Europe Journal, 14(4): 367-382.
[16] Suetyi, L., and Sh. Zhiqin. 2017. How China views the EU in Global energy governance: a norm exporter, a partner or an outsider? Comparative European Politics 15(1): 80-98.
[17] Sukhova, M.G., et al. 2018. Recreation and bioclimatic specifics of landscapes of the central and south-eastern Altai. PeriodicoTcheQuimica, 15(Special Issue 1): 537-547.
[18] von Hauff, L. 2018. Towards a new quality of cooperation? The EU, China, and Central Asian security in a multipolar age. Asia Europe Journal, 17(2): 195–210.
[19] Wei, Sh. 2008. Harmony or coercion? EU-China trade relations and IPR. In Intellectual Property in the Global Trading System: EU-China Perspective (pp. 211-281). Springer Berlin Heidelberg.
[20] Weidong, Ch. 2017. International Peace and Security and the Cooperation between China and the EU in the UNSC. Springer Singapore.
[21] Yu, K. 2018. Energy cooperation in the belt and road initiative: EU experience of the trans-European networks for energy. Asia Europe Journal, 16(3): 251-265.
[22] Zhou, H. 2017. An Overview of the China-EU Strategic Partnership (2003-2013). Springer Singapore.
Published
2019-11-28
How to Cite
BIRIMKULOVA, Gulnara U.; ZHYLKYBEKULY, Bekkozha; TASHTEMKHANOVA, Raihan. Perspective Directions of Multilateral Cooperation between the EU and the PRC in the Context of Stabilizing the Global Financial System. Journal of Advanced Research in Law and Economics, [S.l.], v. 9, n. 8, p. 2551-2561, nov. 2019. ISSN 2068-696X. Available at: <https://journals.aserspublishing.eu/jarle/article/view/4104>. Date accessed: 25 feb. 2024. doi: https://doi.org/10.14505//jarle.v9.8(38).04.