China strategy in planning: Habeck wants to make the economy more independent

According to a media report, Economics Minister Habeck wants to achieve greater independence for the German economy from China. There are also considerations about a possible annexation of Taiwan by China.

According to a media report, Federal Minister of Economics Robert Habeck (Greens) wants to achieve greater independence of the German economy from China. The minister plans to impose new reporting obligations on German companies with strong China business and to reduce political support for German-Chinese economic projects, reported the news portal “The Pioneer”, citing a paper on the China strategy of the Federal Ministry of Economics.

According to the paper, Germany’s dependence has increased in recent years. “As China reduces its dependency, China’s economic importance for the EU and Germany continues to increase.”

Annexation of Taiwan no later than 2027

According to the report, ministry officials expect China to annex Taiwan by 2027 at the latest, in the 100th year of the founding of the People’s Liberation Army. Germany’s potential for blackmail is high given the economic ties.

Focus on Asia Pacific, Latin America and Africa

According to the strategy paper, one of the countermeasures proposed by the ministry is to focus on “alternative future markets such as Asia-Pacific, Latin America and Africa, as well as a new version of foreign trade promotion”. German investments in Chinese companies should be checked more closely and no more development loans should be granted to China from 2023 at the latest.

At the EU level, free trade agreements with the Asia-Pacific region would have to be promoted and our own processing and refining capacity would have to be built up in Europe, it said. The 100-page document has not yet been agreed in the federal government. However, Habeck accepted it this week in a management round and promised a speedy implementation of the measures.

Dispute about Cosco entry at the port of Hamburg

Most recently, the planned entry of the Chinese state-owned company Cosco in the port of Hamburg fueled the debate about economic ties with China. Despite warnings and harsh criticism, the federal government gave the green light for Cosco to acquire a minority stake. Berlin, on the other hand, prohibited the participation of Chinese investors in two German manufacturers of microchips.