Publication
13 Oct 2014
This paper provides an overview of China’s strategic behavior towards the European Monetary Union (EMU). The authors present five reasons for China’s longstanding support for the Euro: 1) its need to reduce its over-dependence on the dollar; 2) its accumulation of over US1$ trillion worth of Euros in a bid to maintain diversification; 3) the grave importance of the European market for China’s development; 4) the country's use of financial support to strengthen its strategic leverage in Europe; and 5) China preference for a multipolar world order in which the Euro counterbalances US hegemony.
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English (PDF, 13 pages, 482 KB) |
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Author | Miguel Otero-Iglesias |
Series | Elcano Royal Institute Analyses |
Issue | 45 |
Publisher | Elcano Royal Institute of International and Strategic Studies |
Copyright | © 2014 Elcano Royal Institute of International and Strategic Studies |