German media: The German economy is no longer as prosperous: Instead of complaining about China, Germany should reflect on its serious decline in competitiveness

The "Handelsblatt" published a commentary stating that the recent visit by German Finance Minister Christian Lindner to China has fully demonstrated the changes in the balance of power between Germany and China. It is better to reflect on the serious decline in Germany's competitiveness than to complain about China:

"The influence and weight of Germany on the international stage have always been based on its economic strength. With strong exports and leading technology, Germany can provide what other countries need. Lindner told the Chinese vice premier that the German economy has also contributed to China's modernization. But such statements sound more like a kind and nostalgic look back at history. There is no doubt that German companies are still active in the Chinese market, and in some areas, German technology is still widely respected. However, in many areas, the Chinese are catching up, and in some cases, they have already surpassed Germany. Electric vehicles are just the most representative example. In this context, changes have also occurred in the trade field: sales of German companies, especially in the automotive industry, in China are declining sharply. At the same time, Chinese companies are becoming strong competitors for German companies, even in Europe itself.

Signs of role reversal have already emerged: According to the latest data from the German Federal Statistical Office, China remains Germany's most important trading partner, but the major premise has changed. German exports to China are declining, while Chinese exports to Germany are increasing. From Beijing's perspective, Germany is no longer a supplier of technology, but rather a sales market. This explains why China has urged Lindner to quickly reduce trade barriers.

Lindner and Europe are complaining about China's overcapacity and subsidy policies, and such complaints are certainly reasonable. If fair competition cannot be carried out, it is necessary to consider using trade protectionist tools. But to sum it all up, we should not forget that the biggest root of the problem is actually the decline in Germany's economic competitiveness."

Original: www.toutiao.com/article/1849806371318792/

Statement: This article represents the personal views of the author.