Negotiations between Europe and China are at an impasse. The Europeans have refused requests from Beijing. European leaders accuse the Chinese take advantage of the debt crisis to increase their influence.
Since Europe seems to beg for financing its debt, China is left desired. It was clear from the beginning. Beijing will not grant assistance to the European Fund for financial support without consideration. But then, the Chinese could come up against the self-esteem of Europeans. The list of requirements put forward by Beijing is currently rejected as a whole.
The European Union would not agree to lift the arms embargo imposed after Tiananmen, or to recognize China’s market economy status, which would make it more difficult for tariffs on Chinese products, and especially not agree to allow the yuan to integrate the currency basket attached to the special Drawing Rights of the IMF, which dent the omnipotence of the dollar, and dilute the influence of Europe and the United States.