2023-06-20 19:40:29
German Chancellor Olaf Scholz (right) and Chinese Premier Li Qiang outside the Chancellery in Berlin on Tuesday. TOBIAS SCHWARZ/AFP
DECRYPTION – In a deteriorated economic situation, the intertwining of the two economies has strengthened. German dependence might increase.
Berlin
Quite a symbol. On the first day of Sino-German government consultations, the Chinese state-owned shipowner Cosco, the very one who has distinguished itself in Europe for having taken control of the port of Athens, formalized its entry at 24, 99% in Tollerort, one of the four container terminals of the port of Hamburg.
The first foreign visit of Prime Minister Li Qiang, in post for three months, at the head of a delegation of seven other ministers, therefore began with the conclusion of an agreement desired by Olaf Scholz. Symbol also because the port of Hamburg, of which the chancellor was mayor, is the hub of German trade with China: one in three goods transshipped in the port on the estuary of the Elbe comes from or goes there. It is the seventh consecutive year that China has been Germany’s largest trading partner in the world, while Germany has been China’s largest trading partner in Europe for 48 years.
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