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China Decoupling Will Cost Jobs: Germany Finance Minister

 

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.

 

Also on AF: Chip Tech Giant ASML Faces Dutch China Export Curbs Threat

 

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

 

Also read:

Volkswagen Says ‘Don’t Want to Give Up’ China EV Market

Germany Blocks Chip Firm Sale Due to Security Concerns

Asian Battery Giants, German Auto Kings the New EV Powers

US Has ‘No Right’ to Interfere in Our Deals With Germany: China

 

 

Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at vishakha.saxena@asiafinancial.com

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