Wednesday, March 22, 2017

Israel should develop economic ties with China, but with open eyes

Op-ed: In his visit to Beijing this week, Prime Minister Netanyahu must use all his diplomatic skills to maneuver between three different and conflicting interests—the economic reality, China’s hybrid economy and the US-China trade war on the horizon.

Oded Eran

YNET - 20.03.17

A quarter of a century ago, China and Israel established full diplomatic relations and I came to Beijing for the first time as part of the team negotiating a trade agreement, which was as basic, general and short as could be. Israeli officials, like the rest of the world, knew very little about the Chinese economy besides recognizing that if you sell one pair of socks to every Chinese person, you are doing well, very well.     This week, Prime Minister Benjamin Netanyahu is co-chairing the China-Israel Joint Committee on Innovation Cooperation. This is the flagship of the relationship. While Israel has led the world in investments in research and development in terms of the ratio to gross domestic product (GDP), in a few years China will surpass the United States, the leading country in absolute terms.