The European Union on Wednesday moved to clinch a major business investment deal with China that has been seven years in the making, despite concerns from the United States and human rights organizations.
The two sides said they agreed in principle on how to ease market access for European and Chinese businesses. The agreement, which calls on Beijing to be more transparent about the subsidies it gives to firms and to end forced technology transfers, represents a diplomatic victory particularly for China and Germany, the main proponents of negotiations since 2014. It also is a setback for incoming U.S. President Joe Biden's administration, which hoped Europe would delay it further.
