Tag: German Economic Institute

German lawmaker joins talks with Taiwan’s president, criticises Chancellor Olaf Scholz’s ‘unilateral’ China policy

Tina Marie (Ms. Cat)

German lawmaker joins talks with Taiwan’s president, criticises Chancellor Olaf Scholz’s ‘unilateral’ China policy (Yahoo)

“I think we could have avoided this if the chancellor had followed the outline that we laid down together. One year ago, we said that Germany’s China policy must be strongly integrated with the US-China policy,” he added, stressing that the “coalition contract” also supports Taiwan’s democracy against “China’s aggression” and its “meaningful participation in international organisations”.

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Over the past two decades, business interests have heavily influenced the country’s China policy. Last year, their combined exports and imports stood at more than US$255 billion, making China Germany’s top trading partner for the sixth straight year.

Germany is dependent on China for solar panels, computer chips, rare earths and other critical minerals. The bilateral trade directly supports more than 1 million German jobs.

Germany’s top 10 listed companies are reliant on China for a significant share of their revenues. According to the Rhodium Group, a New York-based research institute, automakers BMW, Mercedes-Benz and Volkswagen and chemical giant BASF accounted for one-third of all EU investments in China in the past four years.

The Greens are idiots!

Europe Looks To Reduce Dependence On China’s Critical Minerals

Tina Marie (Ms. Cat)

Europe Looks To Reduce Dependence On China’s Critical Minerals

China is the dominant player on the markets for the materials used in solar panels, batteries, and magnets. European countries have recently ramped up efforts to establish local supply chains and diversify imports away from one dominant supplier, especially if this supplier is Russian ally China.

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According to the European Commission, China provides 98% of the EU’s supply of rare earth elements (REE).

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China could reduce exports of critical materials, as authorities said in the latest five-year plan that the country would cut overseas shipments to meet the rise in demand domestically, Deutsche Welle noted earlier this year.

Germany’s economy, Europe’s biggest, became more dependent on China during the first half of 2022, according to a study by the German Economic Institute (IW) seen by Reuters.