15June2025|11:50PMBST

EuropeanEconomicsAnalyst

EU—WhyEconomicCooperationBetweenChinaandthe

EUIsUnlikely(Taddei)

nTheEUdescribesChinaas“apartnerforcooperation,aneconomiccompetitor,SvenJariStehn

+44(20)7774-8061|jari.stehn@

andasystemicrival”.WediscusstheroomforenhancedeconomiccooperationGoldmanSachsInternational

betweentheEUandChina,andwe?ndthatthereislimitedappetiteinEuropeFilippoTaddei

+44(20)7774-5458|

todevelopacloserrelationshipwithChinaforthreestructuralreasons.?lippo.taddei@

GoldmanSachsInternational

nThe?rstreasonisindustrialcompetitionintheglobalexportmarket.InthelastAlexandreStott

+33(1)4212-1108|

25years,thereductionintheEuropeanshareofglobalexportscorrespondedalexandre.stott@

GoldmanSachsBankEuropeSE-Paris

almost1-to-1toanincreaseintheChineseshare.AsanexportmarketforBranch

Europeangoods,Chinahasnowfallentothelowestsharein10years.