Germany’s government called on its companies and economic sectors to reduce dependency on Chinese markets.
German companies and the federal government are required to enhance cooperation to reduce dependency on China, even if this step will have huge negative impact on the country, said Federal Minister of Foreign Affairs Annalena Baerbock, in a speech in the annual meeting of German diplomats abroad on Tuesday. She called for thourogh study of the risks of German companies’ cooperation with China. She also criticized the expansion of a prominent German company’s branch and operations in China, rather than in Germany and Europe.
German companies surely need to be part of the big and important Chinese markets, however, they should maintain balance in cooperating with these markets, she added. The statement came two days after Germany announced a new strategy that calls for reducing dependency on Chinese markets, while still maintaining relations with the these markets.
Source: Kuwait News Agency