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China Decoupling Will Cost Jobs: Germany Finance Minister

Germany aims to reduce dependence on the world’s second largest economy, which has been the country’s top trading partner since 2016


German Chancellor Olaf Scholz meets President Xi Jinping in the Great Hall of the People in Beijing on Friday November 4, 2022
German Chancellor Olaf Scholz meets President Xi Jinping in the Great Hall of the People in Beijing in November. Germany is working on a new China strategy that takes a more sober view of relations between the two /countries. Photo: Reuters

 

Decoupling from the Chinese market will cost jobs in Germany, the country’s Finance Minister Christian Lindner warned on Sunday.

Europe’s biggest economy will need to reduce its dependence on China gradually, he added.

Germany is working on a new China strategy that takes a more sober view of relations between the two economic superpowers.

 

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It aims to reduce dependence on the world’s second largest economy, which has been the country’s top trading partner since 2016.

“Decoupling our economy from the Chinese market would not be in the interest of jobs in Germany,” Lindner was quoted as saying by the Welt am Sonntag newspaper.

He said that gradually other world regions and markets would have to become more important for German business over the coming years and decades, Welt reported.

“The political conditions must be improved for this,” Lindner said.

 

  • Reuters, with additional editing by Vishakha Saxena

 

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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has been working as a digital journalist since 2013, and is an experienced writer and multimedia producer. As an eager stock market trader and investor, she is keenly interested in economy, emerging markets and the intersections of finance and society. You can tweet to her @saxenavishakha

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