At the 25th China-EU Summit in Beijing, Chinese and European leaders acknowledged both overlapping interests and deep divergences, especially over China’s seeming alignment with Russia and the Ukraine war. While Beijing seeks improved economic ties with Europe, it continues to prioritize geopolitical security and its strategic rivalry with the U.S. over European concerns, limiting the prospects for major diplomatic improvements.

Earlier this year, the Chinese firm CATL, the world’s largest battery-maker, unveiled an electric-vehicle (EV) battery capable of delivering a remarkable 520 kilometers (323 miles) of driving range after just five minutes of charging. The announcement came a month after BYD, China’s leading EV manufacturer, launched its own ultra-fast charging system. In solar, too, the numbers are staggering: Chinese firms can now produce over 1,200 gigawatts of solar panels annually.

Amid the uncertainty of U.S. domestic affairs and the evolving international order, the transatlantic relationship — despite its apparent stability — is likely to experience undercurrents of discontent in the years ahead.

A new global stage is clearly being set as Western powers begin to react to China’s rivalling interests, and the U.K. may be positioning itself as a middle ground for the 21st Century.

European Union leaders’ proclamations of supply autonomy sound great under the spotlight, but don’t hold up under the microscope. The truth may be that China already has won the game with its vice-grip on rare metal exports.

Step by step, Europe has flubbed their chances to remain relevant since China’s rise, and now it may be too late for the EU to regain its clout in the global order. Is the dream of a multipolar world coming to a premature end?

For China-EU relations to develop into a stable, mutually beneficial partnership, the EU must undertake a more profound reassessment of its perception of China’s rise and the evolving dynamics of economic competition.