German business groups welcome government’s new China strategy

Leading German business groups generally welcomed the German government’s newly released China strategy document, which calls for companies to reduce one-sided dependencies on China.

The strategy called for mitigating risks but says that Germany is not aiming to “decouple from China.”

“A ‘de-risking’ strategy is an accurate approach to how politicians deal with China,” said Peter Adrian, president of the German Chamber of Commerce and Industry.

Federation of German Industries President Siegfried Russwurm said the strategy was correct to reiterate the European Union (EU) consensus on China’s role as partner, competitor and rival.

He said his group agrees with the government that the rivalry and competitive aspects of the relationship have become more pronounced in recent years.

“Nevertheless, as the world’s second-largest market, China remains an absolutely central economic partner,” Russwurm said.

By DPA International

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