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The surprising change of leadership at Volkswagen is largely related to the company's ailing China business, for which the previous CEO Herbert Diess was in charge. His successor Oliver Blume knows China inside out – and thus has a decisive advantage.
By Felix Lee
As bilateral tensions between the US/EU and China grow, all parties are extending their decoupling toolbox to increase leverage. China created the legal foundation in 2020 and 2021 introducing several new instruments to retaliate against US trade sanctions. While these instruments give the Chinese government sweeping power to retaliate against US measures, their actual implementation has remained slow.
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