The plan was to invest €100 million to make the Romanian capital the largest Chinese business and trade centre in Central and Southeastern Europe. But the reality on the ground has become something entirely different.
China’s economy grew 6.6% in 2018, its slowest rate since 1990, with trade issues impacting the world’s second-largest economy. DW asked Martin Jacques, an academic who predicted the rise of China, to unpick the signals.
The Chinese economy grew an underwhelming 6% in quarter three, its weakest rate in at least 27 years. An ongoing trade war with the US continues to weigh on the world's second largest economy.
With German carmaker Volkswagen postponing a final decision on building a new plant in Turkey, Bulgaria and Romania once again see a chance to win back the deal. But it's likely to be a bumpy road ahead.
US President Donald Trump spoke of "very, very good negotiations with China" after a day of trade talks at the White House on Thursday. But experts say the most one can hope for is token concessions.
© 2019 Deutsche Welle |
Legal notice |
| Mobile version