German Chancellor Olaf Scholz emphasized the importance of fair competition in trade relations with China during his visit to Shanghai. Speaking to students at Tongji University, Scholz highlighted the need to avoid dumping and overproduction in trade practices.
The European Union is considering tariffs on Chinese-made electric vehicles to protect its producers from cheaper imports. This move has raised concerns about potential trade conflicts between the EU and China.
Scholz's visit comes amid tensions between the two countries over various issues, including Russia's invasion of Ukraine. While in China, Scholz is set to meet with Chinese President Xi Jinping and Premier Li Qiang to discuss these matters.
The German leader also addressed concerns about Chinese investments in the German auto industry, drawing parallels to past anxieties over Japanese and Korean automakers entering the market. Scholz reassured students that international trade should be based on fair competition and mutual benefits.
Despite political and trade frictions, China remains Germany's top trading partner. In 2023, the two countries exchanged goods and services worth 254.1 billion euros, making China Germany's largest trading partner for the eighth consecutive year.
Scholz's visit to China is part of ongoing efforts to strengthen diplomatic and economic ties between the two nations. His discussions with Chinese leaders are expected to address key issues affecting bilateral relations and global trade.
As Scholz concludes his visit and prepares to return to Berlin, the outcome of his meetings with Chinese officials may have implications for future trade policies and international cooperation.
