BERLIN - German industrial robot-maker Hahn Automation plans to invest millions of euros in new factories in China over the next three years, keen to capitalise on an economy that’s rebounding more rapidly than others from the COVID-19 crisis.
But while the Chinese recovery may be good news for companies like Hahn, it is complicating efforts by Chancellor Angela Merkel’s government to diversify trade relations and become less dependent on Asia’s rising superpower. “Without China, our business in the third quarter wouldn’t have been so good. So there is no doubt that we’re better off thanks to China.”
A senior official told Reuters that given the latest trade and growth trends, China was likely to overtake the United States by the end of the year, to become number one. “China has become even more important for Germany in economic terms since the start of the year,” said Mair, who has headed the SWP political think-tank since October.The disruptions caused by the pandemic are exposing Europe’s dependencies in certain areas.
Peter Haas from the Suedwesttextil business association said Berlin’s push didn’t lead to a domestic and sustainable market for medical masks because the plan focused on funding investment and did not include purchase guarantees. “China is cordoning itself off without mercy,” said CEO Konrad. “It wants to bring a large part of added value in the area of automation and industrial robots into its own country.”
How will this affect the lives of the Germans? No way.
Because China's economy is doing well.
There are 8 billion people in the world, why German company depend only to 1.4 billion people of Chinese communist? There are 1.35 billion people of India, 330 M USA, 270 M Indonesia, Pakistan, Brazil, Japan, etc
Lol... Communists
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