Let's hope EU realizes investment deal's value

With China-EU ties strained due to the European Union's interference in China's domestic affairs of Xinjiang and Hong Kong, many wonder whether the EU will delay ratifying the China-EU Comprehensive Agreement on Investment because EU politicians have been sending mixed signals.

The EU business community is understandably more worried than its Chinese counterpart about the deal being put on hold, because despite benefiting both sides, the Comprehensive Agreement on Investment is more of a "help in time" for the EU and only an "icing on the cake" for China.

The EU, mired in a "double dip" recession, is in desperate need of an economic booster such as the investment agreement. According to the International Monetary Fund, China's real GDP in 2020 accounted for 18.3 percent of the world's total, compared with 12 percent of the 19-nation eurozone.