German Economics Minister Habeck plans to favor German companies with strong Chinese operations imposing new reporting obligations and reducing political support for Sino-German economic projectsThe news portal ‘The Pioneer’ reports this on Thursday, citing a paper on China strategy from the Ministry of Economic Affairs.
According to the newspaper, dependence on Germany has increased in recent years. “As China reduces its dependence, China’s economic importance to the EU and Germany continues to grow.”
According to the report, ministry officials expect China to annex Taiwan no later than 2027, in the 100th year of the People’s Liberation Army’s establishment. Germany’s blackmail potential is great given its economic ties.
Focus on alternative future markets
According to the strategy paper, one of the countermeasures proposed by the ministry is aimed at “alternative future markets such as Asia Pacific, Latin America and Africa and a new version of foreign trade promotion”. German investments in Chinese companies should be reviewed and No more development loans will be provided to China from 2023 at the latest.
At the EU level, free trade agreements with the Asia-Pacific region should be promoted and our own processing and refining capacity built in Europe, it said. The hundred-page document has not yet been coordinated in the federal government. However, Habeck accepted it this week in a management round and promised a speedy implementation of the measures.
Recently, the planned entry of the Chinese state-owned company Cosco into the Port of Hamburg has sparked debate over economic ties with China. Despite warnings and harsh criticism, the federal government gave the go-ahead for Cosco to acquire a minority stake.
Berlin, on the other hand, banned the participation of Chinese investors in two German microchip manufacturers. (sda/afp)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
