A top German lawmaker says the Chinese government's coercion of Lithuania underscores Germany's need to abandon its bilateral approach to Beijing in favor of a unified European position.
all imports of Lithuanian goods and pressuring European companies to cut Lithuania out of their supply chains.Schmid, noting how uncharacteristically swift the EU's lawsuit was, told Axios "it is vital to defend the integrity of the EU single market" and "stand up for smaller member states when they are bullied around by China."
"The EU is not always in all aspects a superpower, but when it comes to trade and the economy, it is a superpower. It's a regulatory superpower," he said.that will allow the bloc to push back against economic intimidation from China and other countries.Schmid said that nobody in Europe talks seriously about "decoupling" with China, given the extent to which the EU and Chinese economies are "intertwined.
The previous German government had pushed aggressively for a landmark EU investment agreement with China, but ratification was frozen after Beijing sanctioned European lawmakers over their criticism of its human rights abuses. Schmid said the agreement had "shortcomings" related to forced labor and will never be ratified as long as the sanctions remain, but added: "The Scholz government is still, in principle, in favor of an agreement with China, as probably all European governments are."
He also cautioned European businesses against assuming that the Chinese market will continue to be as valuable to foreign investors as it has been over the past several decades, and said other Indo-Pacific and African countries could present better opportunities as the mood toward China continues to shift.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Berlin: Menemsha Takes German Docu-Drama ‘The Conference’ for North AmericaGlobal Screen closed multiple international deals for film, a historically-accurate recreation of the infamous 1942 Wannsee Conference, where Nazi officials planned the genocide of European Jews.
Read more »
German chancellor visits White House at crucial moment for European integrityGerman Chancellor Olaf Scholz heads to the White House on Monday at a pivotal moment in the alliance amid stirrings of war by Russia over Ukraine and questions of German resolve in Washington.
Read more »
Fifteen climate activists glue themselves to German motorwaysFifteen climate activists glued themselves to the asphalt of motorways in Germany, causing rush hour traffic jams on Monday, in the latest protests demanding a law against food waste and cuts in greenhouse gas emissions from agriculture.
Read more »
Biden meets with German chancellor, urges united front amid tensions with RussiaPresident Joe Biden welcomed German Chancellor Olaf Scholz to the White House Monday at a critical time for the leaders as tensions with Russia persist. During brief remarks in the Oval Office ahead of a joint press conference, Biden said the two countries are 'working in lockstep to further deter Russian aggression in Europe and address the challenges opposed by China and promote stability in the Western Balkans,' as military forces buildup along the Ukraine border. Monday marks Scholz's first visit to the White House, and Biden said it provided a good chance to 'get to know you more personally.'
Read more »
Biden meets with German chancellor, urges united front amid tensions with Russia
Read more »
Biden, German chancellor present united front amid tensions with Russia
Read more »