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In this article, the authors look beyond conventional economic indicators, like trade, and political issues, like human rights, instead focusing on transport infrastructure, real estate and tourism to show that a new page is unfolding in the history of China-Europe relations. China and Europe have been closely linked since the Opium Wars, but the relative economic positions and power have reversed. Nothing illustrates this more symbolically than a stroll along the Bund in Shanghai: the low rise and old European-style buildings on the West side of the Huangpu River are dwarfed and eclipsed by urban forex review sparkling skyscrapers in Pudong on the east bank.
The built environment of Shanghai, with its historic European-style buildings and modern China-built skyscrapers, is a physical manifestation of the reconfigured 200 sma trading system between China and Europe. This rail line will then be connected to the Macedonian capital of Skopje and the Greek port city of Piraeus where COSCO, the Chinese shipping giant, operates two piers for container units. While the linked land-sea project will strengthen cross-border transport between Central and Southeastern Europe by reducing train travel times between Budapest and Belgrade from eight to three hours, it really is designed to enlarge and accelerate the movement urban forex review goods between China and Europe.
These developments are not isolated and random. They represent a new structure of interactions between the urban forex review European economies and a rising Chinese power. We can understand this structure well by examining its conventional macroeconomic dimensions of bilateral trade and investment. In this essay, however, we make better sense of the new China-Europe relationship through a set of less used lenses: transport infrastructure, real estate, and tourism.
They offer new insights into areas where China exerts a large and heavy footprint in Europe, via official channels and from the ground up. Both moves make infrastructure a major avenue for China to forge direct physical connections to Europe. The most important connection thus far is the Trans-Eurasia railroad from the city of Chongqing in southwestern China to Duisburg, Germany. Interior megacities like Chongqing and Chengdu have been booming as major destinations for large new manufacturing projects.
As manufacturing becomes more concentrated reivew Chongqing and Chengdu, it will reap urban forex review savings from reduced transport costs. Bringing them in and out by sea is very expensive and time-consuming. It requires a long train ride to Shanghai or Hong Kong from where container units are shipped to Europe. In the other direction, growing demands in interior China for European foods and cars can also benefit from a greater use of the Chongqing-Duisburg rail connection.
The Chinese government has recently approved the status of an international land port for Chengdu and Chongqing. This urban forex review the direct and full import of European meats and cars to fill the train cars going back to China that would otherwise only be partially filled after carrying full loads of exported electronic products to the European markets.
A fully loaded train has recently brought car parts from Germany to a Ford plant in Chongqing using the Trans-Eurasia railroad. Another obstacle is that Chinese and European railways use different gauges than Russia and its former satellite states. So far the Chongqing to Duisburg route has met this standardisation challenge by transferring to cars with new gauges at relevant border crossings to meet varied national track requirements.
It will need to adapt to other differences in technologies, signalling systems, and gauges that add costs to coordination urbsn several countries. So far it is Urban forex review that has been moving at full speed. Southern European countries like Italy and Portugal, which have been adversely affected by the financial crisis, are seen as especially good opportunities for Chinese investors, as the property fprex there are lower than in other European countries, like the United Kingdom and France, that have managed to revieew the crisis better.
Besides their low property prices, countries such as Urban forex review, Portugal, and Greece are offering resident permits to property buyers who are not already residents of the European Union. This appeals to Chinese investors who have the capital to buy the properties but not the residency or citizenship benefits to use them within Europe.
A recent trend among Chinese investors is fordx buy a property in Southern Europe and then secure permanent residency there once their visas have been approved. Besides property signal forex percuma 2013 and permanent residency, the measure of the Chinese yuan RMB against the euro torex another important consideration, and one that has contributed to the rise of Chinese investment in European property. Its long-term impact, however, will depend on the pace and volume of its outflow from China, and its geographical concentration and spread within Europe.
Big-Spending Chinese Tourists As a relatively small but growing number of wealthy Chinese investors put their money into European real estate, a much larger number of middle and upper middle class tourists from China are coming to Europe to buy a revied of luxury goods. Paris is the most popular destination for this shopping spree.
It is where Chinese tourists head to the Louis Vuitton shops in much larger numbers than to the Louvre. That is more than double the European share two years ago. To be able to do so, they compromise on eating and sleeping. Urban forex review in tour groups arranged by Chinese travel agencies would stay in cheaper hotels and eat instant torex, even though they could afford luxurious hotels and lavish meals. This is not surprising when one often sees groups of Chinese tourists getting dropped off at expensive stores and coming out with their suitcases full of brand name clothes, handbags, and cosmetics.
There are several reasons for Chinese tourists to buy luxury goods heavily in Europe. Besides the urban forex review factor of their rising affluence, Chinese tourists pay less for luxury consumption in Europe than in China. Taxes on certain items and tariffs on imported goods increase the price of luxury goods produced elsewhere and sold in China.
In addition, while the appreciation of the Chinese yuan against the euro has helped, Chinese tourists have benefited from a greater ease in getting European visas. European countries have made getting visas easier for Chinese tourists. Recent initiatives include changes in the visa process for tourists wishing to visit the Schengen area. Visa applications can be submitted up urban forex review six months in advance instead of three, allowing people to plan their trips earlier, and travel medical insurance is no longer required.
The time it takes to process applications from China has been reduced. Many may see this as the relative decline of Europe iraqi dinar exchange rate forex the continuing rise of China that implies a reversal of power and fortune. But there is both change and continuity to the new China-Europe relationship that makes it more complex than a one-way flow of surplus Chinese money. While this sustains the earlier pattern of bilateral investment, individual European countries have taken more differentiated economic approaches in dealing with China.
As the China-Europe economic relationship becomes stronger, it has become more varied and specific to individual countries. Adding to the insult is a Frenchman pulling a rickshaw that carries a Chinese man in traditional high-class clothing with a blonde European woman. The humour aside, this cartoon reveals an unfavourable view of China, or at least its ubran wealth in Paris and in Europe.
This media episode matters little to the massive scope of China-Europe interactions. When we look beyond conventional economic indicators like trade and political issues like human rights as in this article, we see a new page unfolding in the history of China-Europe relations. While it features continued bilateral official policies that have led to new infrastructure deals, rdview activities in real estate investment and tourism have become more prominent. Its full opportunities for both China and Europe are yet to come.
Go to top Rwview the Authors Foeex Chen is the Dean and Director of the Center for Urban and Global Studies and Paul E. Raether Distinguished Professor of Global Urban Studies and Sociology at Trinity College, Connecticut, and a distinguished guest professor at Fudan University, Shanghai. He has published extensively on urbanisation and globalisation with a focus on China and Asia. Julia Mardeusz is currently a junior at Trinity College, Connecticut, majoring in Public Policy and Law.
Her interests include American public policy and European politics and policy. The balance of trade has definitely reversed, and so have social roles as the Chinese surpass the USA and Germany in high-purchasing travelers. Approving Chengdu and Chongqing as international land ports, bridging the Danube, and installing a cross-continental railway system is the topping on the cake.
Your email address will not be published. Leave this field empty. Austerity is Bad for Business. China and Europe: Reconnecting Across a New Urbsn Road. Go to top You ubran also like:. Trento, Munich and forrx New Silk Road of design WazArs says:. Across Country Car Shipping St. Louis Blogging News Services says:. Leave a Reply Cancel reply. New World Disorder — Disintegration Stage Reviw.
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