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Audi production in Changchun (China): The economic importance of China for Germany is increasing – that should change
Photo: IMAGO/Zhang Nan/IMAGO/Xinhua
According to a media report, Federal Minister of Economics Robert Habeck wants to achieve greater independence of the German economy from China.
The Greens politician plans to impose new reporting obligations on German companies with strong China business and to reduce political support for German-Chinese economic projects, reported the news portal "The Pioneer", citing a paper on a China strategy by the Federal Ministry of Economics.
According to the paper, Germany's dependence has increased in recent years.
»While China reduces its dependency, China's economic importance for the EU and Germany continues to increase.«
According to the report, ministry officials expect China to annex Taiwan by 2027 at the latest, in the 100th year of the founding of the People's Liberation Army.
Germany's potential for blackmail is high given the economic ties.
Alternative markets in Asia Africa and Latin America
The 100-page document is said not to have been coordinated with the federal government.
According to “Pioneer”, Habeck assumed the outlined scenario in a management meeting this week, so he wants to implement the measures quickly.
According to the strategy paper, one of the countermeasures proposed by the ministry is to focus on "alternative future markets such as Asia-Pacific, Latin America and Africa, as well as a new version of foreign trade promotion".
German investments in Chinese companies should be checked more closely and no more development loans should be granted to China from 2023 at the latest.
At the EU level, free trade agreements with the Asia-Pacific region would have to be promoted and our own processing and refining capacity would have to be built up in Europe, it said.
Most recently, the planned entry of the Chinese state-owned company Cosco in the port of Hamburg fueled the debate about economic ties with China.
Despite warnings and harsh criticism, the federal government approved a minority stake by Cosco.
Berlin, on the other hand, prohibited the participation of Chinese investors in two German manufacturers of microchips.
Apr/AFP
