Reeves Champions Continued UK-China Economic Ties, Dismissing Disengagement as "Foolish

Rachel Reeves, the British Chancellor of the Exchequer, stated on Friday that the UK should maintain its economic engagement with China, describing disengagement as "very foolish." She highlighted the significance of continued cooperation between the two nations.

In an interview, Reeves advocated for strengthening ties with China, rather than erecting new obstacles. She emphasized China's position as the world's second-largest economy, suggesting that ignoring this reality would be unwise. This approach, she confirmed, is the policy of the current government.

Reeves referenced her recent visit to China, where she participated in the China-UK Economic and Financial Dialogue. This event included prominent British financial services firms. The primary goal of the visit was to facilitate greater operational capacity for British financial services companies within China, specifically by securing additional licenses and quotas. The resulting agreements were estimated to be worth approximately 600 million pounds to the British economy.

Furthermore, Reeves expressed her support for the Chinese fast-fashion company Shein listing on the London Stock Exchange. She also indicated her willingness to use Chinese-manufactured electric vehicles, despite concerns about potential surveillance. These remarks underscore the British government's dedication to expanding trade and financial connections with China, a strategy supported by Prime Minister Keir Starmer.