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Nikkei Asia (27 May 2021)

KATSUJI NAKAZAWA, Nikkei senior staff writer

The European Parliament has voted overwhelmingly to freeze the ratification process of an investment pact with China -- a deal that Beijing six months ago considered a big strategic victory.

It has sent shock waves throughout China, with only one month and change before arguably the most important event in President Xi Jinping's era, the 100th anniversary of the Chinese Communist Party's establishment, on July 1.

Some party members are worried that the centenary's festive mood will be dampened by the harsh diplomatic reality. Not only are China's relations with the U.S. bad, but now EU relations are stuck in a ditch.

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