Much to lose, everything to gain

In the past few days, the United States and the European Union have imposed importation restrictions on three kinds of Chinese products. How will Europe's turmoil affect EU-China relations? Will it result in increasing cooperation or protectionism?

Sino-US trading relationship is bilateral. So is the Sino-EU trading relationship - well, theoretically.

At the aggregate level, the EU economy is larger than that of the US. But the EU comprises 27 economies. Most are members of the eurozone, but some are not. Although the euro countries have a common monetary policy, the EU lacks a common fiscal policy.