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During the winter break, the EU concluded a Trade and Cooperation Agreement with the UK as well as a Comprehensive Agreement on Investment (CAI) with China. Whilst both deal with leveling the economic playing field, a number of critical differences stand out. #Thread (1/7).
In the #Brexit negotiations, team @MichelBarnier et al went out of their way to keep both capitals and citizens informed about the EU's own objectives and the state of play. The result of this 'maximum transparency' approach was a deal featuring no significant surprises. (2/7)
Thanks to this, the 
agreement ended up as balanced as domestic politics on both sides allowed. Whilst not the #continentalpartnership advocated by @pisaniferry et al @Bruegel_org (leaving out services, foreign policy...), the core objectives of both sides were met. (3/7)
agreement ended up as balanced as domestic politics on both sides allowed. Whilst not the #continentalpartnership advocated by @pisaniferry et al @Bruegel_org (leaving out services, foreign policy...), the core objectives of both sides were met. (3/7)
In contrast, the CAI constituted a negotiating black box, stalling for prolonged period and accelerating at the end without the wider public being in the know about the negotiation rationale. The inclusive nature of the EU’s own Brexit discussion was nowhere to be found. (4/7)
Whilst CAI may help secure the investment of EU firms in the Chinese market, the agreement fails to address the distorted nature of the EU-China trade balance and allows shortsighted consumer behaviour to fuel the rise of what the EU itself labels a systemic rival. (5/7)
Despite the claim that CAI is a values-based relationship etc, the procedural way of going about this (including Macron in the 'leaders' call, ignoring the voice of China experts within the EU etc) suggests broad support for CAI is lacking. E.g. https://euobserver.com/opinion/150432 (6/7)
As the proof of the pudding is in the eating, parliamentary ratification is now the key play to watch. My bet is on the agreement sailing smoothly and the CAI coming in for maximum scrutiny on both strategic & democratic grounds. No reason to rush important things! (7/7)
agreement sailing smoothly and the CAI coming in for maximum scrutiny on both strategic & democratic grounds. No reason to rush important things! (7/7)
