So nothing except the world's largest market of wealthy consumers, the very thing the Chinese economy needs.
Seems like you're underplaying the European hand here...
In contrast, if you go shopping at a European hypermarket, >50% of the items sold are imported from China. Europe heavily relies on China for its domestic consumption. Without cheap Chinese goods, costs would go up, and European quality of life would decline.
We can see the relationship is imbalanced with statistics, because Europe runs a €350 billion annual trade deficit with China.
And the world's largest market of wealthy consumers is the US, not Europe.
That trade deficit is precisely what China needs and what Europe brings to the table.
Europe has about twice the population of the US.
Europe pays for its trade deficit by transferring wealth from Europe to China. It amassed this wealth through centuries of colonialism. The deal you are proposing makes Europe poorer, and China richer. Every year, compounding. Europe loses, China wins.
And pretending that China will face "economic collapse" if it doesn't export its goods to Europe is delusional. Chinese exports to Europe are only 3.0% of Chinese GDP, practically nothing. China does not need Europe.
The thing about international trade is that it doesn't need to balance out on a country to country level. Europe can support a deficit with China by maintaining a surplus with the rest of the world. There's a reason they just built the worlds largest free trade zone centered around themselves. Profits made from India to Mercosur, Canada to South Korea can all be spent somewhere.
There's no "China wins" or "Europe loses". Trade is not zero-sum. Trade is interdependence and the customer is always right.
