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Germany Vows to End Dependence on Trade With China

by News Desk
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  • Germany’s leader said the country wants to move away from its dependence on trade with China.
  • Germany’s dependence on Russian gas is causing a rethink of Berlin’s foreign policy.
  • China has been Germany’s largest trading partner for six years in a row, according to official statistics.

Germany is rethinking its foreign policy. Germany, burned by its overreliance on Russia for gas, is now pledging to move away from its dependence on China for trade.

Chancellor Olaf Scholz told the Bundestag, the lower house of the German parliament, that “in particular, we are clearing up the energy and trade policy failures that have led to our unilateral dependence on Russia and China.” Reuters report.

Germany, an industrial powerhouse and Europe’s largest economy, depends on pipeline natural gas from Russia. 35% of the country’s fuel imports. However Russia cut off the flow of natural gas Cause an energy crisis through major pipelines Germany from.

Europe’s largest economy has since diversified away from Russian natural gas by importing liquefied natural gas from other countries and is racing to build more gas. essential infrastructure to expedite the shift.

It also learned its lesson Russian policy.

“Russia’s mistakes of dependence will never happen again,” Scholz said separately at a forum hosted by Süddeutsche Zeitung on Tuesday. Reuters.

On Tuesday, German Economy Minister Robert Habeck said at a press conference in Paris that Berlin plans to reduce its dependence on China and will limit investment support for German companies doing business in China. AFPMore report. In particular, Berlin is committed to a new trade policy with China that cuts its dependence on Chinese raw materials, batteries and semiconductor chips, Reuters Reported in September.

China has been Germany’s largest trading partner for six years in a row, which could pose challenges for the Scholz administration. Statistical Office in Berlin.

In October, German companies opposed an economy ministry proposal aimed at curbing investment in China, Reuters report.

“We can only warn Germany not to turn its back on China,” Marcus Järger, head of the Mittelstand association of business alliances, told Reuters at the time.

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