China and EU can share experiences
- By Fu Jing
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E-mail China Daily, September 15, 2014
The European Union's new leadership structure has largely taken shape after prolonged months of bargaining, consultations and elections, and, in November, Jean-Claude Juncker is due to take office as the head of the European Commission, the EU's executive arm.
Juncker announced his dream team on Wednesday, and the ambitious head of the EU's executive, who has visited China eight times, has seemingly reached the same recipe as China has for reinvigorating the European Union economies.
He and his team count on reform.
Juncker said he is determined to streamline the executive arm and improve efficiency to inject new vigor into the bloc's stagnant economies, although detailed policies will not be announced until he takes office in November.
At first glance, his approach looks similar to that of China, whose leaders decided to deepen reform last November, issuing detailed guidelines, goals, and a roadmap, and establishing the leadership structure to oversee and ensure the progress of reform.
If Juncker and his colleagues can deliver on their promises, this process can bring about a lot of convergences of cooperation with China, although both sides still have different fronts on their reform agenda.
To put it simply, Europe's growth is too slow, while China's growth, despite some downturn pressure, has been too fast. Europe perhaps has too much welfare while China doesn't have enough. Europe wastes a lot of time on talk and debate which China needs more of.
If Juncker and his team can address the inefficiencies that plague the EU, it is likely that the EU economy will regain its vigor and its growth rate will accelerate.
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