{"id":3386,"date":"2023-06-22T07:06:24","date_gmt":"2023-06-22T07:06:24","guid":{"rendered":"https:\/\/gbc1.net\/?p=3386"},"modified":"2025-12-01T10:22:05","modified_gmt":"2025-12-01T06:22:05","slug":"derisk-not-decouple-from-china-says-scholz","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2023\/06\/22\/derisk-not-decouple-from-china-says-scholz\/","title":{"rendered":"“Derisk, Not Decouple from China,” says Scholz"},"content":{"rendered":"\n

During the official visit of Chinese Premier Li Qiang in Germany, German Chancellor Olaf Scholz underlined Germany’s new policy vis-\u00e0-vis China. Scholz clarified that Germany and Europe, in general, need to reduce risks and dependencies on other countries, including China, by building up their self-sufficiency in certain areas and, in particular, for #CriticalMinerals<\/a> which are key for industries of the future.<\/p>\n\n\n\n

Leaving China on 18 June 2023, Li Qiang undertook a four-day visit to Germany prior to attending the Summit for a New Global Financial Pact in Paris. He is scheduled to meet with President Frank-Walter Steinmeier and Chancellor Olaf Scholz. He also attended the 7th High-Level Germany-China Government Consultations and the 11th Economic and Technical Cooperation Forum. Additionally, he paid a visit to Bavaria, the economic powerhouse of Germany, which is home to Adidas, Allianz and Audi.<\/p>\n\n\n\n

\n

“Germany and China are both partners and competitors, although the competitive element appears to be more prominent recently.”<\/p>\nGerman Chancellor Olaf Scholz<\/cite><\/blockquote>\n\n\n\n

Germany’s world-famous auto industry must find alternative sources for lithium and cobalt for producing Electric Vehicles (#EV<\/a>). To that effect, Germany will look for and leverage alternative sources such as Azerbaijan, Chile and Indonesia.<\/p>\n\n\n\n

China is Germany’s largest trading partner, with bilateral trade volume at EUR 300 billion in 2022, and China enjoying a trade surplus of EUR 80 billion. The Chinese market makes up a significant portion of the German automakers’ global sales, with BMW and Mercedes-Benz relying on China for roughly one-third of total sales, while half of Volkswagen’s sales are in China. In fact, Volkswagen was the first foreign car manufacturer to strike a JV with Chinese firm SAIC Motor in 1984. Today, China has just surpassed Japan as the largest exporter of cars around the world.<\/p>\n\n\n

\n
\"\"
11th Germany-China Economic and Technical Cooperation Forum<\/figcaption><\/figure><\/div>\n\n\n

On the semiconductor front, Germany welcomed the plan by Intel to invest more than EUR 30 billion in a chip manufacturing facility in Magdeburg. The deal came to fruition with funding support from the German government.<\/p>\n\n\n\n

During the Merkel era, Germany entertained quite good relations with China. However, Scholz initially adopted a harsher tone and China was qualified as a ‘systemic rival’ in a policy paper which was recently released. However, in view of the new posture, an updated policy paper is apparently being drafted will likely be ‘more balanced.’<\/p>\n","protected":false},"excerpt":{"rendered":"

During the official visit of Chinese Premier Li Qiang in Germany, German Chancellor Olaf Scholz underlined Germany’s new policy vis-\u00e0-vis<\/p>\n","protected":false},"author":1,"featured_media":3387,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[14],"tags":[147,49],"yoast_head":"\n"Derisk, Not Decouple from China," says 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