Rachel Reeves, the United Kingdom’s Shadow Chancellor of the Exchequer, has cautioned against disengaging from China, labeling such a move as “very foolish.” In an interview with The Telegraph on Friday, Reeves emphasized the importance of continued economic cooperation between the UK and China.
“China is the second-largest economy in the world, and it would be, I think, very foolish not to engage,” Reeves stated ahead of her planned trip to Washington next week. She underscored the need to strengthen ties with China rather than erect new barriers.
Earlier this year, Reeves visited China to participate in the 11th China-UK Economic and Financial Dialogue. The event included major British financial services firms such as HSBC, the London Stock Exchange Group, Standard Chartered, and Prudential. The dialogue aimed to enhance the ability of British financial firms to operate in China by securing more licenses and quotas for UK businesses.
Reeves highlighted that the visit resulted in agreements she estimated to be worth around £600 million (approximately $796 million) to the British economy. She also expressed support for Chinese fast-fashion company Shein listing on the London Stock Exchange and said she would be comfortable using Chinese-made electric vehicles despite concerns over so-called “spying fears.”
Her comments signal the Labour Party’s commitment to deepening trade and financial ties with China—an agenda championed by party leader Sir Keir Starmer.
