Angela Merkel Says German Companies Should Diversify to Asian Markets Beyond China



Stuart Lau and Reuters | South China Morning Post

Germany has begun a campaign calling for diversification from China, with Chancellor Angela Merkel and her economics minister suggesting that businesses expand their Asian market.

This comes days after Merkel cancelled a meeting with 26 other European Union leaders to discuss future China policies, citing the coronavirus pandemic and the more pressing priority of Brexit.

Germany, the biggest economy in the EU, recently launched its Indo-Pacific policy, which officials said was aimed at encouraging businesses to explore destinations in the region other than China.

Beijing has been eager to keep the EU on its side as its economic and geopolitical contest with the US intensifies. But it remains unclear whether it will agree to further market access demanded by the EU amid talks for an investment treaty, scheduled to be completed this year.

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