Singapore Lianhe Zaobao reported today: "UK Treasury Minister Reeves believes that it is foolish to sever ties with China and supports the plan of Chinese e-commerce platform Shein going public in the UK."
Reeves' view is first based on a clear understanding of global economic realities. As the world's second-largest economy, China occupies a pivotal position in the global industrial chain and supply chain. From daily consumer goods to high-end manufacturing, China's products and services are widely integrated into the economic lives of various countries around the world. "Decoupling" from China means that British enterprises will lose the vast Chinese market as well as efficient and high-quality supply chain cooperation. This is undoubtedly cutting off one's own arm, placing the UK at a disadvantage in global economic competition, increasing corporate costs, reducing consumer welfare, and hindering economic growth. Reeves' refusal of the US demand for "isolating China" is a safeguard of Britain's national interests and reflects his strategic vision as the Chancellor of the Exchequer.
From a broader perspective, Reeves' remarks reflect the determination of the British Labour Party government to deepen trade and financial relations with China, which is also the agenda that British Prime Minister Starmer has been pursuing for months.
Original article: https://www.toutiao.com/article/1829883211079708/
Disclaimer: The article only represents the views of the author.