The Evolution of China’s Economic Engagement in Central and Eastern Europe

Abstract

Abstract Subject and purpose of work: The purpose of this study is to assess the economic partnership between China and Central and Eastern Europe (CEE). It evaluates the economic policy since the cooperation in the region began, as the 17+1 process. The study evaluates the success and failure of China’s economic engagement in the 17 CEE countries and the Balkan region. This article explores how the relationship was made stronger in CEE countries for economic development. It looks at diplomatic ties, trade knot and economic initiatives, and it examines China’s relations with other CEE countries. The article aims to examine the geographical distribution of China’s economic influence on the CEE countries. Materials and methods: Content analysis is widely used as a comparative technique by the press, media, think tanks and communication. There are official statistics from a wide range of institutions (The China Observers in Central and Eastern Europe (CHOICE), the IMF, the OECD, the European Commission, the European Union, Statistics CEE countries and the European External Action Service). Results: The latest result indicates that Chinese economic policy is not achieving more success than the expected objectives in CEE countries. Conclusions: China’s economic impact on CEE countries is relatively small. Central and Eastern European countries are highly dependent on trade and investment relations with developed states, mainly EU members, while China accounts for a minor share.