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NewsRescue
For the first time, the German government has published a “Strategy on China,” with an emphasis on reducing trade dependency on its largest economic partner, which Berlin regards as a “systemic rival.”
According to the report, which was released on the Foreign Office website on Thursday, China has evolved, and Germany must modify its strategy as a result. After decades of robust economic growth, Beijing is now adopting an economic policy that “aims to make it less dependent on other countries, while trying to make others more dependent on China,” according to the document.
While Germany is not attempting to separate itself from Beijing, “de-risking is urgently needed,” according to the strategy’s 40-page English-language version.
The statement uses Germany’s previous reliance on Russia as its primary energy source as an illustration of the necessity to prevent a similar scenario with other countries in areas important to the energy transition or technological innovation.
“It is a priority for us to reduce such risks swiftly and at a cost that is acceptable to the German economy,” the study adds.
ccording to the document, Germany is dependent on China in a variety of fields, including diverse metals and rare-earth elements, medical technology and medicines, information technology, and items used in semiconductor manufacturing.