German President Frank-Walter Steinmeier urged Beijing to pursue trade ties that do not leave other economies dependent on China, citing European concerns about market access and imports, in a speech in Beijing Thursday.
Steinmeier said China’s desire to protect its economy from external shocks was understandable. But he argued that greater economic independence for China should not make other economies dependent on it or more vulnerable to its decisions.
Steinmeier also cited Beijing’s raw-material export controls, saying European firms struggle to sell in China as state-subsidized Chinese goods reach Europe. He said Europe wanted to preserve its industrial base and that he was confident Brussels and Beijing could find solutions through dialogue.
Reuters reported that the European Union has described its growing trade imbalance with China as unsustainable. Reuters also reported that in September the bloc said it would use every possible means to address the deficit. Reuters reported that Germany, with France, has proposed a faster EU response tool for countries seen as harming the bloc; China may be a focus.
“We do not want a new bloc confrontation,” Steinmeier said, warning that one would threaten international security and cause economic losses. Steinmeier is scheduled to meet Chinese President Xi Jinping Friday, Oct. 30, during his five-day China visit, which ends Saturday, Oct. 31.
