British Chancellor Jeremy Hunt is set to visit China, aiming to revitalize the UK-China economic relationship and prioritize economic growth for the UK.
Immensely pragmatic Reeves will have a laser-focus on her job of growing the economy over other concerns when she visits China, a Labour insider said. It is nearly a decade since a British chancellor last visited China, with Philip Hammond following his Conservative predecessor George Osborne in declaring a “golden era” in relations between London and Beijing in 2016. The economic imperatives that drove David Cameron’s Tory government to try and get close to Beijing nevertheless remain.
Senior Labour figures acknowledge that with the Government aiming for the highest sustained growth in the G7, committing to put more money in people’s pockets, and the “fragile” state of the economy, Reeves has little choice but to try and balance national security, geopolitical and human rights concerns with the needs of UK plc. The Chancellor is the person for the job according to some who know her, with one Labour insider describing her as “immensely pragmatic” with a laser-focus on her job of growing the economy over and above other concerns. But some critics warn that cosying up to Beijing could come at the expense of major problems at home, with financial markets threatening to upend Reeves’ tax and spending plans, and creating “risky” dependencies on China, for example on energy security. understands that Reeves’ plan for the trip is to bring stability back to the UK-China relationship, and reopen channels of communication rather than announcing big ticket items. Keir Starmer at a bilateral meeting with President Xi Jinping of China at the G20 summit in Rio de Janeiro, Brazil in November (Photo: Stefan Rousseau/Pool via REUTERS/File Photo) She will also reflect the UK’s principles of engagement with Beijing: cooperating where it is possible, competing where there is a need, and challenging where Britain must, including on human rights, democracy in Hong Kong and Chinese support for Russia in Ukrain
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