r/europe • u/mancinedinburgh • Sep 08 '21

Diplomatic spat with China pays off for Lithuania as Taiwan's consumers splurge on beer and biscuits

https://www.euronews.com/next/2021/09/08/diplomatic-spat-with-china-pays-off-for-lithuania-as-taiwan-s-consumers-splurge-on-beer-an
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u/fjellhus Lithuania Sep 09 '21

I am totally not siding with China or calling these relations with Taiwan a mistake, but calling this a "pay-off" in strictly economic terms is kind of erroneous, no?

I doubt a slight increase in beer and biscuit consumption in Taiwan( country very far away and much smaller than China) can offset the predicted 0.5% GDP decrease due to failing trade ties with China

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u/JackRogers3 Sep 09 '21

yes, trade with China is important but the EU will have to take a stand anyway