The Hannover Messe International Industrial Fair 2022 begins today. The German exhibition is one of the largest gatherings of global
The Hannover Messe International Industrial Fair 2022 begins today.
The German exhibition is one of the largest gatherings of global industry leaders. This year’s themes include carbon neutral energy production, IT security and trade and investment. Over 10,000 exhibitors are expected to attend.
The future of German economic relations with China looms large as Europe’s largest economy contemplates divestment from Russia. For many years German-Chinese trade relations have remained stable and mutually beneficial. In 2021, China remained Germany’s largest trading partner for the sixth year in a row.
Nonetheless, despite these ties, German Chancellor Olaf Scholz’s governing coalition continues to question maintaining normal relations in light of China’s increasing assertion of its status as a global power and documented human rights abuses in Xinjiang. While Scholz cautioned against isolating China at the World Economic Forum last week, he acknowledged the effect business-as-usual has on strengthening authoritarian countries. Yet, even if Berlin’s China strategy encourages divestment, the extent to which economic ties are already intertwined and the global strength of China’s economy will make any transition challenging. Take Germany’s transition to solar power, for instance, in which nearly 40% of polysilicon—a critical component of solar panels—is produced in China.
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