This chapter examines the dramatic developments of the EU-China Comprehensive Agreement on Investment (CAI) and explores what brought the EU and China together, as well as what drove them apart. This essay argues that the unilateralism under the former Trump administration compelled the two sides to cooperate, but the new Biden administration has reduced the incentive for them to move forward. Domestic politics within the EU and China also play a role. The turn of Chinese economic policies from liberal to inward-looking forms the backdrop for the EU-China stalemate. Equally important is that some EU member states have expressed their discontent with the Franco-German dominance of the EU’s China policy and have called for an EU summit on China policy. The suspension of the ratification process offers an opportunity for the EU to rethink its China policy, in general, and the destiny of EU-China CAI, in particular. European values or the Chinese market—the EU has to make a choice.