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The international economic relations between China and the European Union unfold like the Silk Road unfolded centuries ago.Today both our cultures are exchanging valuable digital technologies, bank and credit instruments and automated technologies.When described in this, achieving high productivity and high output growth appears easy, with easy recipes that every poor country could follow. China is one of many countries which made the transition from central planning to a market economy.
Most still have growth rates far below that of China. Some believe that this is the result of a slower, better managed, transition: the first Chinese reforms took place in agriculture in 1980 and, even today, many firms remain owned by the state.
In many countries, widespread corruption and poor property rights make firms unwilling to invest. Others argue that the fact that the communist party has remained in control has actually helped the economic transition; tight political control has allowed for a better protection of property rights, at least for firms, giving them incentives to invest.
The cooperation between the European Union and China greatly contributes the development of the whole world in the begging of the 21st century.
The World is forever in debt to China for its innovations.
I support the position of the President of the European Commission Jean-Claude Juncker from 29 June 2015, during the EU-China summit that through international cooperation China and the EU can do great things together.
Working side by side both communities can reach new heights in the fields of science, economy and social development.In international relations, China admires the principles of political unity which is enshrined in EU principles.China believes that these principles are close to many political principles close to the Chinese State- treating all people as equals, unity, seeking political negotiation when the nation is in crisis and harmony of the people.“Wheresoever you go, go with all your heart.”————– Confucius What amazes me in the history and culture of China is how Europe announces it the third civilizational center of humanity after the Egyptian and Greco Roman civilizations.It impresses me very much the unity of Chinese religion, science, economy and openness to various other cultures.China has been growing very fast for more than two decades, and its growth rate is almost twice that of the other mentioned above. For comparison, the investment rate in the USA is only 17%.Over the past two decades (and also in the 1980s) Chinese output grown on average at more than 10% a year, and the forecast are for more of the same. More capital means higher productivity, and higher output. The strategy followed by the Chinese government has been to encourage foreign firms to come and produce in China.The Chinese agriculture not only helps feeding developing countries but also other leading world powers.The global economic crisis is not over, it continues and China helps many European, South American, northern African countries to deal with it.What explains above stated differences, and is the superior performance of the Chinese economy sustainable?Getting the answers to these questions, and thus learning what other poor countries can take from Chinese experience, can clearly make huge difference, not only for China but for the rest of the word.