The biggest problem is the European aristocracy has given up on its own people. It looks at its own as entitled eaters who utilize far more resources than they deserve, and see the U.S. and the idea of rugged individualism it still repesents (regardless of how diminished it actually is) as dangerous.
They look to the Chinese populace and their willingness to eat shit, keep their head down, and just work for their nation as the pinnacle of the slave class. They've even been heralding the 21st Century as the "Chinese Century."
The main reasons they haven't just glassed their own population and given everything to China are:
1. China keeps double-crossing them.
2. China isn't able to reach an internal stability that is considered suitable.
3. Trump shined a giant spotlight on China in 2015, and started making policies to fuck them over.
Now you might be wondering why they are still courting China when it has consistently shown it wants to take what it can and create a Han ethnic hegemony that has no actual Europeans in control? Because, I shit you not, the fucking entities they "talk to" when they do fuck tons of hallucenogens tell then it will all work out for them. That's right, the European aristocracy is buttfucking their populace and lands that they have been charged with for, in some cases, over a millenium because things that could be anything from representations of a diminished mental state to outright demons told them it would be the best course of action.
Unfortunately, their citizens are on average to complacent to realize they've already essentially been sold out and their leaders are just held up in the final negotiations before signing.
