Don’t let politics get in the way of a Sino-British economic partnership

UK Prime Minister Theresa May’s upcoming visit to Beijing is part of London’s efforts to build “Global Britain” by forging new trade partnerships beyond the EU.

“Brexiteers” claim to be encouraged by friendly noises from potential bilateral trade partners. But these are mainly former colonies, mostly small or in Australasia, whose modest markets are now part of the Chinese economic orbit. Apart from US President Donald Trump, whose enthusiasm for Brexit appears both frivolous and mischievous, it is China and the other emerging economies which really matter.

Beijing was perplexed by Britain’s vote to divorce with the EU. China was embarrassed by having hailed the so-called “golden era” of bilateral relations with the UK, only to see Britain veer off in a totally new direction, apparently without a clear agenda or an exit plan. All their suspicions about the dangers of Western democracy were confirmed in spades. A more pertinent lesson for the Chinese Communist Party is the danger of externalising internal party conflicts, as the Conservative Party has done with Brexit.

China is very clear on what to ask for from the current British government. First, that the UK continues to provide a secure home of investment opportunities for Chinese companies, to enhance their brand value or for new acquisitions, without the fierce resistance encountered in continental Europe and the United States.