EU fears dependence on China more than on Russia
The European Union's (EU) top foreign policy official, Josep Borrell, has just said that the bloc depends on China in green transition more than it depends on Russian energy.
On November 7, Mr. Borell said that the EU's high dependence on China for supplies plays a key role in the bloc's green transition strategy, making Europe vulnerable.
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EU and Chinese flags. Photo: EIU. |
On the one hand, China is the EU's "main economic partner," the EU official said, while on the other hand,China is also a "systemic rival" of the EU.and this competition is "increasingly prominent" in bilateral relations.
According to Mr. Borrell, China plays a crucial role in providing many important materials and equipment. For example, China meets 90% of the EU's demand for magnesium, 90% of its demand for rare earths and 80% of the solar panels used by the bloc.
EU official Borrell admitted the bloc's dependence on the EU in its green transition strategy is now higher than its dependence on fossil fuels imported from Russia.
According to Mr. Borrell, the EU must therefore make efforts to reduce this "excessive dependence".