Political and Cultural Implications For Greece
Chinese-Greek Ties
While the United States withdraws from the world and engages in trade wars, China has rapidly moved to create an infrastructure and investment project called the Belt and Road Initiative, seeking to establish itself as a global power and an alternative trade partner to the US. For over a decade China has been pouring money into establishing an economic, political and cultural relationship with Greece. When Greece’s economy collapsed during the 2008 global recession and Europeans were pulling out, Chinese investors filled the void. Greece is struggling to revive its economy, lower youth unemployment, provide affordable housing, and aid thousands of refugees living in camps around Greece. The political and cultural alliance has broad implications for the future of geopolitics and global trade for both the US and European Union. |
Benefits for Greece
Greece is in a position to capitalize on increased respect from the EU while continuing to support a close relationship with China. For Greece, foreign investment has meant an end to unpopular austerity measures and hope for economic recovery. However, with those positives have come tensions with powerful EU member states and fears of human rights violations in a nation historically open to workers’ voicing their opinions through protests and strikes.
Greece’s reliance on Chinese investments is increasingly driving a wedge between the EU members states who participate in BRI and member states that do not. EU bailouts sparked frustration and anger in Greek citizens toward the EU; coupled with reluctance from European investors to place their trust in Greece’s slowly recovering economy despite assurances from Greece and other EU leaders have all led to rising tensions within the EU.
Investment in Greece has presented China with a route into Europe through Greece’s ports, airports and railways; Chinese products have a direct line to mainland EU. The EU is China’s second largest trade market, following the US. Now that Greece’s economy is recovering, EU leaders are urging investment in Greece to restore closer ties between Greece and other member states. With Brexit and the US pulling away, the EU is desperate to present a united front on politics and trade.
Implications for the European Union
The implications of Greece allying with China are economical and political. The power of the EU comes from member states standing together. The EU’s united front against China is jeopardized because of the economic relationship with Greece. Greece has previously blocked EU condemnations of human rights violations sparking fears that China’s historically poor human rights record and labor standards will be exported.
Greece, a nation built on history and partially financially dependent on tourists, has engaged in significant cultural diplomacy with China for at least the last 10 years. Through museum exchanges, heritage festivals, music and dance groups, China has poured money into establishing and strengthening a cultural relationship with Greece. While Greece has gained a wealthy investor and increased tourism from China, the Greek economy is in danger of relapsing without continued investments. The sustainability of Chinese investments into Greece’s economy has implications for its future stability.
Greece is in a position to capitalize on increased respect from the EU while continuing to support a close relationship with China. For Greece, foreign investment has meant an end to unpopular austerity measures and hope for economic recovery. However, with those positives have come tensions with powerful EU member states and fears of human rights violations in a nation historically open to workers’ voicing their opinions through protests and strikes.
Greece’s reliance on Chinese investments is increasingly driving a wedge between the EU members states who participate in BRI and member states that do not. EU bailouts sparked frustration and anger in Greek citizens toward the EU; coupled with reluctance from European investors to place their trust in Greece’s slowly recovering economy despite assurances from Greece and other EU leaders have all led to rising tensions within the EU.
Investment in Greece has presented China with a route into Europe through Greece’s ports, airports and railways; Chinese products have a direct line to mainland EU. The EU is China’s second largest trade market, following the US. Now that Greece’s economy is recovering, EU leaders are urging investment in Greece to restore closer ties between Greece and other member states. With Brexit and the US pulling away, the EU is desperate to present a united front on politics and trade.
Implications for the European Union
The implications of Greece allying with China are economical and political. The power of the EU comes from member states standing together. The EU’s united front against China is jeopardized because of the economic relationship with Greece. Greece has previously blocked EU condemnations of human rights violations sparking fears that China’s historically poor human rights record and labor standards will be exported.
Greece, a nation built on history and partially financially dependent on tourists, has engaged in significant cultural diplomacy with China for at least the last 10 years. Through museum exchanges, heritage festivals, music and dance groups, China has poured money into establishing and strengthening a cultural relationship with Greece. While Greece has gained a wealthy investor and increased tourism from China, the Greek economy is in danger of relapsing without continued investments. The sustainability of Chinese investments into Greece’s economy has implications for its future stability.
President Xi Jinping narrates a film explaining why he proposed jointly building the Silk Road Economic Belt and the 21st Century Maritime Silk Road - the Belt and Road Initiative. President Xi proposed the Belt and Road Initiative in the hope that with a focus on connectivity, the free and convenient flow of all elements of production will be encouraged, multidimensional cooperation platforms developed, and mutual gains and shared development achieved. Video by the state-owned China Global Television Network.