World
Xi's European tour: Some euro, no vision
The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews.
For China to revive its fortunes, it must fundamentally change course, abandoning its version of predatory state capitalism in favour of the genuine market reforms its trade partners worldwide are calling for, Elaine Dezenski writes.
Xi Jinping arrived in Europe earlier this week lugging some heavy economic baggage.
With foreign direct investment into China plunging 82% to just $33 billion (€30.5bn) in 2023 — a three-decade low — one might have expected Xi’s tour to be a full-fledged charm offensive aimed at wooing back skittish European investors and businesses.
However, the authoritarian leader’s trip was anything but charming.
Rather than candidly address the headwinds battering China’s economy and appease anxious trading partners, Xi doubled down on the same tone deaf tactics that have defined his authoritarian rule for over a decade.
Cosying up to the like-minded regimes in Hungary and Serbia, Xi offered limited compromises on China’s aggressive trade practices. This hardline posture underscores Xi’s fundamental inability to relate to major market economies as an equal partner respecting fair competition.
For China, the results have been disastrous. The fact that the US has now surpassed China as Germany’s largest trading partner lays bare the costs of Xi’s inflexible approach.
Germany has been one of China’s more reliable European partners — this shift, however, shows the extent of Europe’s growing rejection of China’s hegemonic ambitions.
A bad call at a bad time
With a looming demographic crisis at home and a faltering real estate sector, China needs its top export markets — the US and Europe — more than ever. But authoritarians don’t make a habit of offering concessions or leading with a spirit of compromise.
Xi had a prime opportunity on this European tour to chart a new course, one oriented around economic liberalisation, market reforms, supply chain transparency, and fair competition.
Instead, he chose the path of confrontation towards vital European trading partners while cosying up to Europe’s authoritarian eastern flank.
This represents an untimely miscalculation. By ignoring the reasonable concerns of Europe’s leading economies, Xi has squandered an opportunity to help stave off potential economic implosion at home.
Foreign capital will continue fleeing, spooked investors won’t return, and European markets will become increasingly inaccessible so long as Beijing maintains its predatory trade practices.
Respect the rules of the market you need
The reality is that while China’s domestic market remains important, the number of foreign firms deriving profits there appears to be shrinking.
According to a report from the McKinsey Global Institute, multinational corporations’ “share of all revenues earned in China declined from 16% to 10% from 2006 to 2020.”
For many, the Chinese market has become an empty promise. The European Union Chamber of Commerce in China’s latest survey shows record-low business confidence in the Chinese market.
In fact, a record share of respondents doubted their profitability in China. In the US, as well, less than half of companies responding to an American Chamber of Commerce in China survey indicated they expect to be profitable in 2024.
Xi had an opportunity to change the tides with respect to investment in China. He could have addressed the pressing needs of his European trading partners with humility and opened the door to renewed economic cooperation.
Unfortunately for the Chinese people, returning to robust commerce with Europe and North America’s major economies would require the flexibility and respect for market principles that Xi’s authoritarian mindset renders him incapable of delivering.
With foreign capital fleeing, property values falling, youth unemployment surging, and indebtedness soaring, China is in desperate need of a win for its export-driven economy.
The status quo won’t fly any more
On this trip, European Commission President Ursula von der Leyen bluntly conveyed the EU’s demands for fair economic competition with China and its willingness to robustly defend its interests against Beijing’s unfair trade practices.
In response, Xi bluntly denied the basis for Europe’s concerns, claiming, “The so-called ‘problem of China’s overcapacity’ does not exist, either from the perspective of comparative advantage or in light of global demand.”
This builds on the ES’s 2019 designation of China as a “systemic rival” and should be understood in China for what it is: a clear warning that the status quo is no longer acceptable.
By doubling down on authoritarian belligerence, Xi demonstrated a lack of vision for productive European engagement.
For China to revive its fortunes, it must fundamentally change course, abandoning its version of predatory state capitalism in favour of the genuine market reforms its trade partners worldwide are calling for.
By ignoring Europe’s call for change, Xi has ensured darker economic days ahead for the Chinese people.
Elaine Dezenski is senior director and head of the Center on Economic and Financial Power at the Foundation for Defense of Democracies, a non-partisan think tank based in Washington, DC.
At Euronews, we believe all views matter. Contact us at view@euronews.com to send pitches or submissions and be part of the conversation.
World
Hyun Bin, Jung Woo-sung Crime Thriller ‘Made in Korea’ Sets Disney+ Debut
Hyun Bin and Jung Woo-sung go head-to-head in “Made in Korea,” a 1970s crime noir that launches Dec. 24 on Disney+ with a two-episode premiere.
The series stars Hyun Bin (“Crash Landing on You,” “Confidential Assignment”) as Baek Kitae, an ambitious KCIA agent in 1970s South Korea who leads a dangerous double life. By day, he works as a government operative, while by night he runs an illegal operation, using his underworld connections to consolidate power, protect his brother and generate substantial revenue for the agency.
Jung Woo-sung (“Tell Me That You Love Me,” “12.12: The Day”) co-stars as Jang Geonyoung, an incorruptible prosecutor determined to bring Kitae down. Woo Dohwan (“Bloodhounds,” “Mr. Plankton”) plays Kitae’s brother Baek Kihyun.
The series is written by Park Eunkyo (“Mother,” “A Normal Family,” “The Silent Sea”) and Park Joonseok (“A Normal Family”), directed by Woo Minho (“The Man Standing Next,” “Inside Men,” “Harbin”), and produced by Hive Media Corp (“Inside Men,” “The Man Standing Next,” “12.12: The Day”).
Following the two-episode premiere, “Made in Korea” will release two additional episodes on Dec. 31, with the final two episodes rolling out weekly through Jan. 14. The series has already been renewed for a second season, which is currently in production.
The thriller joins Disney+’s expanding slate of Korean drama content that launched in 2025, including “Unmasked,” “Nine Puzzles,” “Hyper Knife,” “Low Life,” “The Murky Stream” and “Tempest.”
The streamer has additional Korean series slated for 2026, including “Gold Land” starring Park Boyoung, “Perfect Crown” starring IU and Byeon Wooseok, and the return of “A Shop for Killers” for a second season with Lee Dongwook and Kim Hyejun.
World
Pope Leo XIV says he’s ‘very disappointed’ after Illinois approves assisted suicide law
Illinois Gov. JB Pritzker meets with Pope Leo XIV
Illinois Democratic Gov. Jay Robert “JB” Pritzker met with His Holiness Pope Leo XIV, a fellow native of the Land of Lincoln, at the Vatican this week. (Credit: REUTERS — No use Fox Weather/Outkick)
NEWYou can now listen to Fox News articles!
Pope Leo XIV said Tuesday he was “very disappointed” after his home state of Illinois approved a law allowing medically assisted suicide.
Leo, who grew up in Chicago, said he had spoken “explicitly” with Illinois Gov. JB Pritzker while the legislation was on his desk and urged him not to sign the bill into law, saying the measure undermines respect for human life from “the very beginning to the very end.”
“Unfortunately, for different reasons, he decided to sign that bill,” Leo told reporters outside Rome. “I am very disappointed about that.”
The Medical Aid in Dying Act, also referred to as “Deb’s Law,” was signed into law by Pritzker on Dec. 12 and allows eligible terminally ill adult patients to obtain life-ending medication after consultation with their doctors.
NY GOV. HOCHUL TO SIGN BILL TO LEGALIZE PHYSICIAN-ASSISTED SUICIDE: ‘WHO AM I TO DENY YOU?’
Pope Leo XIV met with Illinois Gov. JB Pritzker during an audience at the Apostolic Palace on Nov. 19 in Vatican City, Vatican. (Simone Risoluti – Vatican Media via Vatican Pool/Getty Images)
The measure was named after Deb Robertson, a lifelong Illinois resident with a rare terminal illness who had pushed for the bill’s approval.
The law takes effect in September 2026, giving participating healthcare providers and the Illinois Department of Public Health (IDPH) time to implement required processes and protections.
Leo said Chicago Cardinal Blase Cupich also urged Pritzker not to sign the bill, but his efforts were unsuccessful.
BISHOPS, CATHOLIC GROUPS SLAM CARDINAL CUPICH’S PLAN TO HONOR PRO-ABORTION SEN DICK DURBIN: ‘GREAT SCANDAL’
Pope Leo XIV said he was very disappointed” that Illinois passed a law allowing medically assisted suicide. (Alberto Pizzoli/AFP via Getty Images)
“I would invite all people, especially in these Christmas days, to reflect upon the nature of human life, the goodness of human life,” Leo said. “God became human like us to show us what it means really to live human life, and I hope and pray that the respect for life will once again grow in all moments of human existence, from conception to natural death.”
The state’s six Catholic dioceses have also criticized Pritzker’s decision to sign the bill, saying it puts Illinois “on a dangerous and heartbreaking path.”
Illinois joins a growing list of states allowing medically assisted suicide. Eleven other states and the District of Columbia allow medically assisted suicide, according to the advocacy group, Death with Dignity, and seven other states are considering allowing it.
After signing the bill, Pritzker said the legislation would allow patients with terminal illnesses to “avoid unnecessary pain and suffering at the end of their lives,” and said it would be “thoughtfully implemented” to guide physicians and patients through deeply personal decisions.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Illinois Gov. JB Pritzker signed the Medical Aid in Dying Act on Dec. 12, allowing eligible terminally ill adult patients to obtain life-ending medication after consultation with their doctors. (Jacek Boczarski/Anadolu via Getty Images)
Fox News Digital has reached out to Pritzker’s office for comment.
Fox News Digital’s Alexandra Koch and The Associated Press contributed to this report.
World
Europeans show solidarity with Denmark after Trump’s Greenland threat
Published on
Exactly one year after Donald Trump first announced his intention to integrate Greenland into US territory on grounds of “national protection”, he’s back for more.
The US president has appointed Governor of Louisiana, Jeff Landry, as the new US special envoy for Greenland with the stated objective of “integrating Greenland into the United States” and repeated the US needs the territory for its national security.
His comments have been taken seriously by EU heads of state and government, who are presenting a united front against what they describe as American expansionist ambitions towards the autonomous territory, which is part of the Kingdom of Denmark.
France’s President Emmanuel Macron and his Minister for Europe and Foreign Affairs, Jean-Noël Barrot, both responded to the announcement by reaffirming their support for the integrity of Denmark’s territory.
“Greenland belongs to its people. Denmark stands as its guarantor. I join my voice to that of Europeans in expressing our full solidarity.”
On Tuesday, Trump told reporters the United States “needs Greenland for national security, not for minerals or oil, but national security. And if you take a look at Greenland, there are Russian and Chinese ships all over the place. So, we need this for protection.”
He also chastised Denmark for what he described neglecting the territory, “they have spent no money, they have no military protection, they say Denmark arrived there 300 years ago with boats – we were there with boats too, I’m sure. We’ll have to work it all out.”
Adding to the European voices pushing back on the US ambitions and the criticism of Denmark, Commission Ursula von der Leyen insisted that “territorial integrity and sovereignty are fundamental principles of international law”. Despite the tone coming out of Washington, she appeared to refer to the US as an ally in arctic security.
Spanish Prime Minister Pedro Sánchez echoed those remarks. “Respecting sovereignty and territorial integrity is central to the EU and to all nations of the world,” he wrote on X. “Security in the Arctic is a priority in which we seek to work with allies and partners.”
The US and Denmark are part of NATO, which is supposed to ensure mutual defence in the event of aggression against one of its members. That principle has never been tested by conflict between members of the alliance if one were to seize territory from another.
NATO Secretary General Mark Rutte has so far remained silent on the issue. During a press conference with Trump in the White House’s Oval Office in March, he also chose not to comment after a question from a journalist.
“When it comes to Greenland, if it joins the US or not, I will leave that outside of me in this discussion because I don’t want to drag NATO into that,” he said.
-
Iowa1 week agoAddy Brown motivated to step up in Audi Crooks’ absence vs. UNI
-
Maine1 week agoElementary-aged student killed in school bus crash in southern Maine
-
Maryland1 week agoFrigid temperatures to start the week in Maryland
-
New Mexico1 week agoFamily clarifies why they believe missing New Mexico man is dead
-
South Dakota1 week agoNature: Snow in South Dakota
-
Detroit, MI1 week ago‘Love being a pedo’: Metro Detroit doctor, attorney, therapist accused in web of child porn chats
-
Health1 week ago‘Aggressive’ new flu variant sweeps globe as doctors warn of severe symptoms
-
Maine1 week agoFamily in Maine host food pantry for deer | Hand Off