"A new axis of power, based on economic power, will form between Europe and China if the U.S. continues to shirk its role as global leader." Chinese investment in Europe especially targeted technology and advanced manufacturing businesses, according to the Rhodium study. But there's also a cost: Unions and politicians in Europe's industrial heartland of Germany, Belgium and northern Italy complain bitterly of Chinese trade practices. A new eraStill, there are areas where Europe and China should be able to find common ground. In a draft statement ahead of the summit, Beijing and Brussels agreed to accelerate what they call the "irreversible" shift away from fossil fuels.

Source: CNN June 01, 2017 02:41 UTC