Like his predecessors, Xi Jinping has coined political terms to display visionary leadership. The evolution of these phrases provides a window into how political concepts are formed within the Party and how they are tested among the public.
The economic and political costs of granting Market Economy Status (MES) to Beijing without extracting concessions in return would be too high. In addition to economic interests, political and strategic considerations should also guide the EU’s decision.
Accepting its trading partner China as a market economy does not need to be a bad deal for the EU. The costs of Chinese dumping to the European economy are often overestimated. And levelling the playing field may even incentivise Chinese companies to be more transparent in calculating costs and prices.