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German finance minister warns against quick decoupling from China

Published 22/01/2023, 00:04
© Reuters. FILE PHOTO: People walk along at financial district of Lujiazui in Shanghai, China October 15, 2021. REUTERS/Aly Song/File Photo
CHNA
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BERLIN (Reuters) - Germany must reduce its dependence on China gradually as decoupling from the Chinese market would costs jobs in Europe's biggest economy, Finance Minister Christian Lindner was quoted as saying on Sunday.

Germany is working on a new China strategy that takes a more sober view of relations and aims to reduce dependence on Asia's economic superpower, 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.

© Reuters. FILE PHOTO: People walk along at financial district of Lujiazui in Shanghai, China October 15, 2021. REUTERS/Aly Song/File Photo

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.

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