Germany must gradually reduce its dependence on China, because direct decoupling from the Chinese market would cost jobs in Europe’s largest economy itself. This was stated by German Finance Minister Christian Lindner in an interview with the Welt am Sonntag newspaper.
China has been Germany’s most important trading partner since 2016. As in other European countries, many products in the country are “made in China”. But Germany, which traditionally has a large industry of its own, is now working on a new Chinese strategy aimed at reducing its dependence on the Asian superpower.
Risky
However, Lindner believes a quick exit from China would be risky for the German economy. He therefore speaks out against an abrupt change of course in German trade relations with China. “Disconnecting our economy from the Chinese market would not be in the interest of jobs in Germany. Others would take our place,” the minister said.
However, Lindner doesn’t want to stay with China. According to him, other regions and markets of the world should gradually become more important for Germany. This should therefore be a process of years or even decades. To make such a transition possible, according to the minister and leader of the liberal FDP party, the “political conditions” must first of all be improved.
Source: BNR
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