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Economy

EU should not follow U.S. in weaponizing trade

2023-05-09 08:08:43China Daily Editor : Li Yan ECNS App Download

The container terminal in Haikou, Hainan province. (PHOTO by SU BIKUN/FOR CHINA DAILY)

European Union member states are reportedly discussing this week whether to impose sanctions on several Chinese companies that allegedly provided equipment and raw industrial materials to Russia that can be used to manufacture weapons.

Leaving aside the authenticity of the charges, which the EU has not disclosed any substantial evidence to support, the discussion itself sets a very bad example.

To begin with, the bloc is doing nothing but blindly following the United States' lead in weaponizing sanctions at the cost of the global supply chains.

The sanctions, if materialized, will open a Pandora's box as this will by no means be the first batch of enterprises that the EU will sanction citing the same cause, and as the US' long sanction lists indicate, more companies from different countries will fall victim to the EU's shortsighted trade bullying practices which will unavoidably harm the interests of the bloc.

That will also leave these targeted countries no choice but to take counter measures to protect their enterprises' legitimate rights and interests.

That will only serve the narrow interests of Washington, as to take advantage of the Ukraine crisis to tighten its control over the EU and divide the world into a US club and the others has always been part of its scheme in instigating the conflict in Ukraine.

Notably, the leaders of the EU have recently expressed clearly on different occasions that the bloc pins great hope upon China playing a key role in helping set the table for cease-fire negotiations between Kyiv and Moscow at an early date.

Although China will continue its unswerving peace efforts, the EU's possible sanctions on Chinese entities over the Ukraine crisis will understandably prompt Beijing to take the EU leaders' we-count-on-you message with a pinch of salt.

It should not be forgotten that China provides the majority of many kinds of raw materials and equipment for industries in the EU as well as the US, the United Kingdom and Japan that are related to the manufacturing of weapons and other military supplies. That is part of its normal economic and trade activities, rather than a sign indicating it has discarded its neutrality on the Ukraine crisis.

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