Joerg Wuttke interview + Chancellor trip + Where is Hu?
Following the 20th Party Congress, not only the German business wonders: Is the China boom nearing its end with Xi Jinping's third term? Joerg Wuttke, President of the EU Chamber of Commerce in China, sees Xi's priorities as maintaining power and stability at the cost of innovation and market economy. Speaking with Frank Sieren, Wuttke explains the complex situation we find ourselves in. True, companies can continue to do good business, especially in the manufacturing sector. But growing rivalry with China is making life difficult for them – especially as the leadership punishes them for the actions of their governments. That is why Wuttke believes the upcoming trip to China of Germany's Olaf Scholz is "sensible and extremely important." As Merkel once demonstrated, many things can be discussed much better in private than at a large gathering – "especially the unpleasant topics."
Volker Stanzel, on the other hand, is less optimistic about Scholz's visit to China and Germany's economic opportunities in the People's Republic. In a guest article for China.Table, the former German ambassador to Beijing explains that "the lottery called change through trade" is over. Scholz could "if not to save change, then to save the best from trade." But that is far from being a sustainable China strategy.
Numerous politicians and even business representatives are therefore calling for a clear stance toward China during the visit. But China's state media welcome the trip, as you will find in our analysis. The port deal, they say, is Scholz's present for the host. However, this is precisely the perception the chancellor wanted to avoid.