That is Scholz’s second journey to China after he took workplace, following his first go to in November 2022. He’s additionally the primary chief of a serious Western nation to go to China this 12 months.
Pang Zhongying, a chair professor of worldwide political economic system at Sichuan College, stated Scholz’s go to was seemingly to assist German corporations, particularly within the new vitality car business, additional develop their enterprise in China.
“Southwest China was economically underdeveloped, however now it’s a brand new financial progress hub,” Pang stated.
China laps Germany in some exports, turning commerce tide and elevating eyebrows
China laps Germany in some exports, turning commerce tide and elevating eyebrows
Shangyou Information, an internet information platform affiliated with the official Chongqing Every day, stated that as of February, Germany had arrange a complete of 84 corporations within the southwestern metropolis, enjoying a task in “the development and improvement of Chongqing”.
Scholz’s go to to the megacity started with a visit to a plant making hydrogen gas cells arrange by the German firm Bosch – a area that the authorities in Chongqing and the neighbouring province of Sichuan have been eager to develop in recent times.
Regardless of optimistic messaging from Beijing in regards to the state of the Chinese language economic system, there’s a rising scepticism about its speedy progress prospects and Pang stated Scholz’s go to confirmed that “each Germany and the European Union need to know the true state of affairs of China’s economic system”.
Ding Chun, a professor specialising in European research at Fudan College, instructed the official China Information Service that Germany couldn’t decouple from China and “wants to take care of and deepen financial and commerce exchanges and cooperation with China”.
The German Federal Statistical Workplace stated in February that China “was Germany’s most vital buying and selling associate in 2023 for the eighth 12 months operating”.
Bilateral merchandise commerce dropped by 8.7 per cent from a 12 months earlier to US$206.8 billion in 2023, in keeping with the Normal Administration of Customs. China’s exports declined 13 per cent year-on-year to US$100.6 billion.
Scholz’s go to takes place amid rising concern throughout the EU that overseas corporations don’t face a degree enjoying area citing components resembling market limitations and industrial overcapacity.
“Chinese language and German corporations are more and more changing into shut opponents – each in China itself and in world markets,” the chamber stated.
Actions nonetheless louder than phrases for overseas companies, expats as China ups the ante
Actions nonetheless louder than phrases for overseas companies, expats as China ups the ante
In the meantime, the EU has been taking a look at methods to “de-risk” its relations with China and scale back important dependencies in its provide chains.
