Strategically speaking, a Brussels-Beijing Axis makes very good sense for both parties. They both share the same strategic goal: limiting the global power of the United States.
They can help each other to achieve that goal, and from there I think its all but certain that such a cooperation will emerge. What does this mean for the world? It means that there will be a serious challenge to American global power and to American freedom of action worldwide. The natural response, I think, will be an attempt on the part of the United States to build a counter-coalition, consinsting of some or all of the following nations: Russia, Japan, Taiwan, South Korea, Australia, India, and, less likely, Great Britain, if they should break with the EU. These are all nations that are threatened by the rise of either a strong China or a strong EU and therefore would have a natural interest in joining an anti-axis coalition.