Time for a New Atlanticism: The EU-China Comprehensive Agreement on Investment and the International Order

There has been no shortage of critiques of the EU-China Comprehensive Agreement on Investment (CAI) signed on 30 December 2020. Many have perceived the CAI as a snub in the face of the Biden administration, which has the potential to jeopardise one of the most important strategic goals of the transatlantic alliance: setting aside four years of Trump’s populist economic policy and working in close coordination with a view to developing a united front to contain China. While the CAI does indeed indicate that the EU considers itself a fully autonomous international economic player, however, such a display of autonomy need not be incompatible with a stronger transatlantic alliance. In fact, the CAI may be an opportunity for the transatlantic alliance to evolve into a partnership among equals that is necessary to successfully navigate the uncharted waters of the coming global (dis)order.
Keywords: European Union; China; United States; investments; global governance