BERLIN: Germany’s economic climate minister said on Tuesday (Sep 13) the government was focusing on a new trade plan with China to reduce dependence on Chinese unprocessed trash, batteries and semiconductors, promising “no a lot more naivety” in industry dealings with Beijing.
Resources told Reuters a week ago the economy ministry was considering the raft of new procedures to make business with China less appealing. This is the first time the minister has made obvious the tougher line was being translated straight into policy measures.
Robert Habeck informed Reuters that Tiongkok was a welcome investing partner, but Philippines could not allow Beijing’s protectionism to distort competition and would not hold back criticism of human rights infractions under threat of losing business.
“We cannot permit ourselves to be blackmailed, ” he said in an interview.
Habeck did not put together new measures completely, but said they will include closer examination of Chinese investments within Europe, such as facilities.
China has been Germany’s biggest business partner for the past six years, with volumes reaching over €245 billion (US$246 billion) in 2021.
But the centre-left govt is taking a tougher line towards Beijing than its centre-right predecessor, worried about Germany’s dependence on Asia’s financial superpower.
On Thursday, Reuters reported the economy ministry was considering steps including reducing or perhaps scrapping investment plus export guarantees meant for China and no lengthier promoting trade fairs.
Habeck stated Germany must open up to new trading partners and regions as many sectors had been heavily dependent on selling to China.
“If it (the Chinese language market) were to close up, which is not likely at the moment… we would have intense sales problems, inch Habeck said, including the economy ministry was contributing to the new German-China policy, a lot of which is already in position.
“And from this you will see that there is no a lot more naivety, ” this individual added.
Habeck comments come before a meeting of the trade ministers of the Group of Seven (G7) rich democracies in Brandenburg this week.
He or she said the “fiction” of an united entire world with common industry was over yet that the United States should not be too protectionist vis-à-vis China either.
“We must also realize trade policy being a new instrument associated with power, also being an instrument of solidarity, ” he added.
Berlin furthermore wants to examine Chinese investments in Europe more critically, he or she said, adding European countries should not support China’s Silk Road Effort, which aims to buy up strategic infrastructure in Europe and influence trade policy.
As an example, Habeck signalled he was opposed to plans simply by China’s Cosco to buy a stake in a pot operator at Germany’s Hafen Hamburg slot, signalling concerns about Chinese takeover deals are spreading out from the technology arena in to other industry sectors, such as logistics.
“I’m leaning to the fact that we do not let that, ” this individual said.
China and taiwan has not joined the West in imposing sweeping sanctions upon Moscow following Russia’s invasion of Ukraine, but has also not really endorsed Moscow’s actions as Beijing needs to maintain trade relationships with Europe.