China is now the EU's biggest trading partner, overtaking the US in 2020.
China bucked a wider trend, as trade with most of Europe's major partners dipped due to the Covid-19 pandemic.
Trade between China and the EU was worth $709bn (€586bn, £511bn) last year, compared with $671bn worth of imports and exports from the US.
Although China's economy cratered in the first quarter due to the pandemic, its economic recovery later in the year fuelled demand for EU goods.
Trump did some very amazing things. But he didn't attend to the basics. Not one bureaucracy closed down. No big salaries in the public sector dissolved. He didn't reform health care. He didn't reform the banking system.
ReplyDeleteSo as amazing as some of initiatives were it was more an interregnum in the seemingly inevitable collapse of the USA. You cannot follow policies that rely on you being around for 100 years. You need to get the basics right. Monetary and fiscal reform.