Why it matters: Scholz’s trip on Friday with a delegation of business leaders will make him the first EU leader to visit the Asian country since the start of the COVID-19 pandemic. The visit will also come less than two weeks after Chinese President Xi Jinping secured a historic third term in office.
The trip could send a confusing signal about how Europe’s largest economy plans to deal with Beijing, especially as other EU countries increasingly toughen their stances on China, analysts say.
State of play: Scholz’s predecessor, Angela Merkel, had close economic ties with Beijing. China was Germany’s top trading partner over the last six years, with bilateral trade reaching $245 billion last year.
But 84% of Germans would like the country to reduce economic ties with China, according to a recent poll by German public service broadcaster ZDF.
“Germany made a big bet on China,” says Noah Barkin, a managing editor of Rhodium Group’s China practice. “For many years, this was seen as a source of strength. Now it has become a vulnerability.”
How do we preserve freedom and order in the region, as countries south of us join China’s Belt and Road project?
Meanwhile, dwindling recognition for Taiwan and potential dual-use facilities raise questions about the United State’s lack of presence. What are the serious dangers when the Chinese communists take over? This was asked to Joseph Humire, a national security expert at the Center for a Secure Free Society.
US Officials warn Chinese firms could attempt to steal intellectual property, cut into Washington’s foodstuff exports profits, undermine American supply chains, and even target US genetically-modified crops with biological warfare.
China has consistently been considered a currency and manipulator by several administrations in the United States. While this may be true, what China has been doing recently can hardly be called simple manipulation of the currency. China has been attempting to dedollarize as quickly and quietly as possible. Continue reading “China Makes Financial Moves Against the US…”