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For. Min Criticises Firms Reliant On 1 Country As China Strategy Leaked

GERMANY

Wires carrying comments from German Foreign Minister speaking on the gov'ts China strategy. She states that firms that 'rely solely on one market may not be acting in in Germany's best economic interests.'

  • The comments come as Reuters reports that it has seen a confidential strategy paper from the German Economy Ministry setting out its 'Internal Guidelines on China'.
  • Reuters reports that the paper, "...recommends excluding using components from providers from authoritarian states in critical infrastructure and imposing stricter requirements for firms dealing with China [...] Those German firms particularly exposed to China should share details on that business with the government and undergo regular stress tests,"
  • Germany is one of the EU economies most closely entwined with China with regards to trade and investment, highlighted in Chancellor Olaf Scholz being the first G7 leader to visit Beijing in November since the start of the COVID pandemic.

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