Our citizens, industries, and organisations can all benefit from a closer, improved, and better-defined EU-China relationship based on shared responsibility.
Advertisement
ANZ said in a research note that although the Brexit result is unlikely to affect China’s immediate economic outlook, the event “reminds us that we are still pencilling in one more additional RRR cut”, referring to banks’ reserve requirement ratio. “As well, because Britain will experience a bigger short-term shock from Brexit, it will become even more committed to cooperating with China, especially in finance, and this would be a plus for China”.
Prior to the referendum, China had not directly stated its opinion, viewing the vote as an internal matter and saying only that it wanted to see a strong and stable Europe.
Chinese Foreign Ministry spokeswoman Hua Chunying said China respected the choice of the British people. But it said China would first have first to stop dumping exports in the European Union at artificially low prices.
The European Union Chamber of Commerce in China said it “deeply regrets” the outcome of the British referendum.
China supports Europe in choosing its own path of development.
However, Hua did not clarify if China will continue its important financial cooperation programmes, based on Britain’s being an European Union member, in the future.
But on Saturday, influential Chinese tabloid the Global Times, published by the ruling Communist Party’s official People’s Daily, wondered at the wisdom of such a momentous decision being decided by such relatively narrow margin.
“The UK looks like it has been led astray, and this concerns Europe and the world”, it said in joint editorials in its Chinese and English-language editions.
“If a central bank has multiple objectives, it may be harder to be immune from the political reality”, he said.
The National Front is leading calls for France to follow the United Kingdom in offering its citizens a ballot on whether to stay in the EU.
Advertisement
“In this context, our ongoing efforts as South Africans, government, business, labour and civil society to reignite growth become that much more urgent and critical”, the statement added.
