Bloomberg published an article mocking Germany, saying that Germany has made too much money in China and can't pull out.
Different from the political circles' warnings of "China dependency," German business circles are more concerned about profits and costs. You say "de-risking," but who will bear the cost of "de-risking"?
Will companies sacrifice profits, workers lose their jobs, and consumers face higher prices, or will the already strained government foot the bill? No one answers this question, so everyone knows it, and they just keep it like this for now.
Some people have counted that from 2020 to 2024, two-thirds of the average investment by Germany in China were contributed by car manufacturers.
BMW has placed its battery project and the largest R&D network outside of Germany in Shenyang, and even exports electric SUVs from China to Europe.
Benz, on the other hand, moved its annual strategy summit to Beijing, specifically developing electric vehicles for the Chinese market. As for Volkswagen, there's no need to mention it; it directly calls China its "second hometown" and has signed a series of technology cooperation agreements with Chinese companies.
Certainly, this is not just an issue for the automotive industry. The chemical giant BASF recently invested 8.7 billion euros in its largest project ever in China, and its boss openly stated that the Chinese market is key to the company's growth, able to offset the weakness in Germany itself.
Similarly, Bosch is laying off employees in Germany while deepening its reliance on product development in China. In the end, they are all voting with their feet, choosing the market that is most profitable for their company.
For corporate executives, their logic is simple: current profits are real, and future risks are distant clouds. As long as the government doesn't force them to act at gunpoint or help share the losses, why would they change a business strategy that has been proven extremely successful?
Moreover, there is another key point here: much of the money invested in China isn't actually transferred from Germany, but is reinvested using profits made from the Chinese business.
This is like you have a brooding hen, placing it in China, where it lays golden eggs every day. If you bring it back to Germany, it might not adapt well, and it might only lay silver eggs at best.
At this point, the German government comes over and says, "You rely too much on Chinese feed and coop, which is risky. They might later use this to blackmail you, so you'd better bring the chicken back."
You see, if you're the one raising the chicken, whom do you listen to? This calculation, as long as you have a clear mind, anyone would be able to figure it out.
Original: www.toutiao.com/article/1848958369796360/
Statement: This article represents the views of the author himself.