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China a challenge to German economy, Rösler says

The Local · 27 Jun 2011, 09:08

Published: 27 Jun 2011 09:08 GMT+02:00

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Economy Minister Rösler stressed that economic relations were excellent but told daily Bild that China would prove a strong competitor to German firms.

Asked whether Germany should fear China, he said: “Fear is always a bad guide. But of course the growing role of China on the world markets ... is a challenge for the German economy.”

He said Germany was nevertheless “well-prepared” to compete with China and would continue to profit from the rapidly growing market it represents.

“China means more chances for us if we secure our competitiveness through innovation, flexibility and customer-focus ... I see no reason why German companies should not be able to hold their own with confidence against Chinese competitors.”

Germany's exports to China are booming. But experts are increasingly warning that Chinese companies are rapidly improving their own standards when it comes to manufacturing products such as machine tools, at which Germany specialises.

China officially overtook Germany as the world's leading exporter last year.

On Monday, Jiabao will arrive in Germany from Britain with 13 ministers and a large business delegation. After a working dinner with Chancellor Angela Merkel on Monday evening, there will be a joint cabinet meeting on Tuesday.

Several lucrative business contracts will also be signed, though Germany will also press Jiabao over human rights in the wake of the jailing of artist Ai Weiwei.

Story continues below…

At the weekend, Jiabao vowed to increase China’s support of the eurozone by spending billions of euros propping up the common currency. Jiabao said it China would keep buying government bonds of debt-stricken European nations such as Greece.

The Local/djw

The Local (news@thelocal.de)

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Your comments about this article

10:13 June 27, 2011 by dbert4
"Jiabao vowed to increase China¦#39;s support of the eurozone by spending billions of euros propping up the common currency"

Yes help support the over-valued €! Make German products more expensive to give China a pricing edge. Luckily Germany sees China for what it is, currently a good customer and a long term threat.
16:02 June 27, 2011 by catjones
China demands access to proprietary technology as the price for market entry. The short-sighted Germans (and many others) hand over that technology for the short-term gains, but sooner rather than later the Chinese will incorporate that technology as their own. At that point, they will no longer need the Germans.
19:43 June 27, 2011 by MJMH
China has never been able to completely get it together and never will. People talk of China as a threat but go a few miles inland and little has changed. The vast majority of Chinese are still really poor. Remember in 1492 China and India and The Ottoman Empire were the centers of the earth yet the small countries of Europe ended up on top.
23:43 June 27, 2011 by lunchbreak
China is the elephant in the room, quietly grazing at the moment but working quietly for a dominant role in the future and capable of causing real havoc.
06:22 June 28, 2011 by Laowaiblog
It is interesting how some democratic German politicians criticize China because Germany actually benefits greatly from the rise of China.

08:04 June 28, 2011 by ND1000
catjones is spot on correct. The Chinese arent interested in balanced trade. They will sooner rather than later copy everything Germany makes and flood the worldwide market with cheap copies. They are already doing for other goods. They dont play by the same rules as everyone else.
23:10 June 28, 2011 by wenddiver
You can not Free Trade with a Communist Dictatorship, because they are willing and able to take losses for a decade to destroy your industry.
01:55 June 30, 2011 by thinwolf
In Chinese's main media(including TV,newspapers,internet),there is no words blaming other country.But in other country's main media,it is popular to blame China about attack,threaten.Chinese treat foreigner as guests,not enemy.
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