The Comprehensive Agreement on Investment (CAI) bears the stamp of Chinese negotiation skills. Beijing is thus greatly satisfied. The official reading there is “balanced, high-quality, mutually beneficial and win-win,” which has been quoted by party officials and state media like a prayer mill for days. And in Europe? Many observers doubt a win-win. It is true that the improved conditions for market access for European companies in China are seen as positive in principle. But numerous shortcomings of the deal provoke bitter smiles and criticism in Europe.
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