German Chancellor Olaf Scholz meets Chinese President Xi Jinping in Beijing
Asia-Pacific, Europe, News November 5, 2022 No Comments on German Chancellor Olaf Scholz meets Chinese President Xi Jinping in BeijingThe German chancellor arrived in Beijing on November 4, 2022, where he met with President Xi Jinping. Scholz was accompanied by top executives from several German companies as his visit mainly focused on improving China-Germany trade cooperation.
The German Chancellor was welcomed by China’s Premier Li Keqiang at the airport. Scholz was accompanied by 12 German industry titans including the CEOs of Volkswagen, Deutsche Bank, Siemens, and chemicals giant BASF.
Scholz arrived at Beijing’s Great Hall of the People where he met with President Xi. This is the first time that a leader from G7 countries has visited China since the start of the COVID-19 pandemic.
“It is good that we are able to have an exchange here about all questions, including those questions where we have different perspectives, that’s what an exchange is for,” Scholz said.
“We also want to talk about how we can further develop our economic cooperation on other topics, climate change, food security, indebted countries,” he added.
President Xi told the German Chancellor that China and Germany should work together during “times of change and turmoil” for the sake of world peace. China has been Germany’s largest trading partner for more than a decade now. Despite facing a lot of criticism from the West for its inclination towards Russia, China remains one of the largest trading partners with many Western countries.
COSCO-Hamburg deal
German Chancellor seeks to finalize a deal between China’s state-owned China Ocean Shipping Company (COSCO) and Germany’s Hamburg Port. Scholz pushed the COSCO deal through his cabinet last week, despite facing opposition from six key ministers within his cabinet.
The timing of the deal has raised several eyebrows in the Western capitals including the U.S. According to some sources, the United States cautioned Germany against allowing China to obtain any stakes in Hamburg port, which is one of the busiest European ports.
In order to cater to the reservations of his cabinet ministers and international partners, Scholz decreased COSCO’s critical infrastructure stake from 35% to 24.9%. While his cabinet reluctantly agreed to the deal, it still remains unpopular with many Western leaders.
Critics have accused Scholz of continuing to prioritize Germany’s economic interests over broader security concerns in the face of an increasingly assertive China. Ahead of the visit, German opposition politician Norbert Roettgen said that Scholz’s approach to Beijing appeared to be underpinned by the idea that “we want to keep doing business with China, no matter what that means for the dependence of our economy, and for our ability to act”.
The German and Chinese economies are deeply intertwined. China is a crucial market for German goods, from machinery to vehicles, made by the likes of Volkswagen, BMW, and Mercedes-Benz.
China’s foreign ministry spokesman Zhao Lijian described the visit as “successful” and said that “cooperation far exceeds competition” between the two countries. “China and Germany are partners, not rivals,” the spokesman said.
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