Japan and the European Union signed a wide-ranging free trade deal on Tuesday that both sides hope will act as a counterweight to the protectionist forces unleashed by US President Donald Trump.
France, Germany and Italy on Tuesday announced plans to join the Chinese-led development bank AIIB, drawing concern in Washington which views the institution with skepticism. The three European countries want ”to become founding members of the Asian Infrastructure Investment Bank (AIIB)”, they said in a statement.
China surpassed the US to become the world's biggest trading nation last year as measured by the sum of exports and imports of goods, a milestone in the Asian nation's challenge to the US dominance in global commerce.
The European Union (EU)'s new bailout deal reached Thursday served a boost to global markets. China, as a major trade partner with the EU, welcomes its step to tackle the debt crisis and expects to enhance cooperation with the regional bloc for world economic recovery.