Updating the EU strategy on China: co-existence while de-risking through partnerships

The EU relations with China will not return to their pre-COVID pandemic state as the costs and risks clearly outweigh the benefits by now. The EU’s approach to China will need to be based on co-existence while protecting European values and interests. Co-existence does not imply accepting dependence. De-risking policies must continue by further deploying existing defensive instruments and new ones within the framework of the EU economic security strategy but with full involvement of member states and other European stake holders. While accepting the trade-offs of more economic security is needed, building stronger partnerships can reduce the costs of de-risking. Such partnerships cannot stop at the US and must involve the G7, other like-minded countries, as well as relevant countries in the Global South.