Why is China so sophisticated
Globalization: That's how dependent we really are on China
It was planned as the most important date of the German EU Council Presidency: the EU-China summit in Leipzig, organized for mid-September. After all, the review of relations with the Middle Kingdom should actually be a central component of the German Council Presidency. On Thursday, however, the meeting was canceled due to the corona pandemic. It would have been necessary in the matter.
Relations with China are now a problem for the German government. The USA, the leading power in the Western alliance, is reportedly urging the partners to distance themselves from Beijing - if necessary at their own expense. China, on the other hand, is exercising more and more influence in Europe and Germany with a lot of money. And the German corporations, which have invested billions in the Middle Kingdom, fear for their business if the federal government gives in to the urging of the Americans. They warn of terrible consequences, should it come to "decoupling", that is, the economic and political separation from China.
VW sells almost every second car to China
Indeed: The economic figures seem to initially prove the corporate bosses right. The VW Group, for example, now sells almost every second car in China. With a trade volume of more than 200 billion euros in 2019, China is Germany's most important trading partner. German consumers benefit enormously from cheap imports of Chinese products, research by WELT AM SONNTAG recently showed in a cover story.
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