1. Figures on the Billiard Table: EU-China Dynamics in the Wake of the 2024 European Elections
- Author:
- Bart Dessein and Jasper Roctus
- Publication Date:
- 06-2024
- Content Type:
- Policy Brief
- Institution:
- EGMONT - The Royal Institute for International Relations
- Abstract:
- While still a powerhouse in its own right, Europe’s relative influence on the world stage has been diminishing over the last few decades. Data, for example, highlight a significant shift in global trade patterns away from the old continent. According to a recent Brookings’ calculation, South-South trade had by 2009, i.e., around the time of the global financial crisis, increased from 10.9 per cent to 25.0 per cent worldwide. South-South trade thus surpassed North-North trade for the first time in world history. Today, 35.0 per cent of global trade is accounted for by South-South merchandise trade, and just 25.0 per cent of global trade is North-North trade. One important factor in this is a surging China-Africa trade. With China’s bilateral trade with Africa rising from 2.7 billion dollar in 1990 to 209 billion dollar in 2022, China has now become Africa’s single largest trading partner.
- Topic:
- Bilateral Relations, Elections, European Union, Trade, and Strategic Partnerships
- Political Geography:
- China, Europe, and Asia