No one is advocating that Germany stop doing business with China, but Beijing’s investments in important areas need to be properly scrutinised, German Economy Minister Robert Habeck said on Wednesday
At a symposium hosted by the Sueddeutsche Zeitung newspaper in Berlin, Habeck stated that ‘nothing speaks against continuing to maintain business links with China.’
Everything warns against closing your eyes and praying that things don’t get worse, even though it is utterly impossible for the German economy to rapidly wave goodbye to it at this point.
Habeck explained, ‘That means we have to assess and forbid the strategic influence of essential investments in the critical sectors of our economy.’
Germany is working on a new China strategy in an effort to lessen its reliance on Beijing, but given the close economic linkages between Europe and Asia, it may be challenging.
After the United States passed the Inflation Reduction Act, which Habeck claimed could hurt European businesses and drive investments away from the continent, Habeck said that Europe was also working to resolve a trade dispute with the United States. He added that the dispute needed to be resolved in the upcoming weeks.
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