China, EU cooperation crucial to world economy: former Italian PM

Romano Prodi, former European Commission president and former Italian prime minister, has called for continued cooperation between China and Europe, warning that efforts to decouple could lead to disaster for the world economy.

Prodi stressed that fragmentation could lead to a severe crisis, whereas working together can stabilize world trade.

“Now, China and Europe together, they make more than one third of all world trade and you have to take the decision — do we follow the United States? So Europe alone, China alone, everybody alone and it will be disaster for mankind, will be really a crisis like we had in the past century. Or can we try to, let’s say, make a new picture in which our cooperation will be necessary. We need wisdom, comprehension, because it is our interest. As I hinted before, if we don’t stick together, the world economy’s gone, the world economy gone,” he said.

China and the EU are each other’s second-largest trading partners, and nearly 3,000 Chinese enterprises have established a presence in the EU, creating over 260,000 local jobs, according to a report released by the China Chamber of Commerce to the EU and consultancy Roland Berger in Brussels in mid-November.

Hungarian Prime Minister Viktor Orban on Monday emphasized that his country views China as an opportunity rather than a threat.

When asked about the relations with China at his annual international press conference in Budapest, Orban said that the “all-weather comprehensive strategic partnership for the new era” between Hungary and China means the two countries will maintain their partnership regardless of external conditions.

“We belong to an all-weather relationship. This means that no matter what the external environment is, we will maintain the partnership. This is a good thing for Hungary. Hungary does not see China as a threat, but as a great opportunity,” he said.

Orban noted that within the European Union, there are voices inclined to restrict cooperation with China, and Hungary is working to correct this situation.

He also denounced the characterization of China as a so-called “systemic rival” to Europe, saying that this is an attempt by some to reignite ideological confrontation.

“People from different cultural backgrounds have different ways of governance. We have known this for a long time. I have said before that the ancients knew Roman and Greek ways of governance were not interchangeable. That is correct. China is China, Europe is Europe, the United States is the United States. Every country has a system of governance rooted in its own culture. Those who want to synthesize and harmonize all governance methods or turn them into systemic conflict are completely wrong. That idea is wrong for humanity. Therefore, we do not see China as a ‘systemic rival.’ I believe that by 2026, it is crucial to maintain and further strengthen the in-depth cooperation between China and Hungary,” Orban said.