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Habeck wants to detach Germany's economy from China

According to plans from the Federal Ministry of Economics, the German economy should become far more independent of China - this should also be achieved with stricter measures.

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Habeck wants to detach Germany's economy from China

According to plans from the Federal Ministry of Economics, the German economy should become far more independent of China - this should also be achieved with stricter measures. A paper from the economics department proposes, among other things, that German-Chinese projects should no longer be flanked politically, as the news portal "The Pioneer" reported on Thursday. In addition, Chinese companies are to be excluded from orders for critical infrastructure. China's status as a developing country in funding should be removed. The Ministry of Economics initially did not want to comment on request.

German companies that are particularly exposed in China could be given separate notification obligations. From 2023 there should be no more development loans to China, bilateral projects should only be realized with "adequate Chinese financial contributions (at least 50 percent)", quotes "Pioneer" from the paper by the officials of Economics Minister Robert Habeck (Greens), which was published in the federal government has not yet been agreed.

China plays an important role in the German economy. As a lesson from the Russian attack on Ukraine, Habeck has already embarked on a new China course. With investment guarantees, German foreign investments are to be increasingly directed to markets outside of China. In Singapore, Habeck recently campaigned for German companies to invest more in other regions.

According to the portal, the paper from the economic department criticizes that "cluster risks" have formed in individual sectors - i.e. they are hardly viable without the Chinese market. Mentioned would be the automotive industry, hydrogen technologies, electric mobility, carbon sequestration and renewable energies.

From the point of view of the officials from the economics department, it is unclear “to what extent and to what extent the Chinese market will still be open to foreign companies”. There are unfair competitive practices to which business can only respond with diversification. German companies are exposed to "numerous forms of discrimination and restrictions", the paper on the new China policy guidelines is further quoted. In it, China is called a “single-party dictatorship.” The officials therefore propose a clear focus on alternative future markets such as Asia-Pacific, Latin America and Africa.

"Kick-off Politics" is WELT's daily news podcast. The most important topic analyzed by WELT editors and the dates of the day. Subscribe to the podcast on Spotify, Apple Podcasts, Amazon Music or directly via RSS feed.

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