German Chancellor Olaf Scholz
– Photo : ANI
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German Chancellor Olaf Scholz is arriving in China today on a one-day visit. This is the first visit to China by a leader of the Group of Seven Major Industrialized Countries (G7) of the world in the last three years. His visit has also caused controversy in Germany. Opposition parties are opposing this visit.
During the visit, Scholz will meet with Chinese President Xi Jinping and Premier Li Keqiang in Beijing, CNN reported. Scholz’s visit comes at a time when there is a semiconductor shortage across the world. The entire industry is in trouble due to US sanctions imposed on China for semiconductor exports.
The US sanctions are also hurting the companies of America and its allies. The US has taken this step with the intention of stopping China’s technology and military ambitions. Semi conductors are used in electronics, auto mobiles, state-of-the-art defense equipment, etc.
The economic interests of Germany and Europe are related to China
A team of top officials of the country is also reaching Beijing along with German Chancellor Scholz. His visit means that his country wants to continue trade with China, the world’s second largest economy. The visit is the first visit by a G7 leader to China in nearly three years. This is happening in the midst of a deepening recession in Germany. The economic interests of Germany, the largest economy in Europe, are still heavily tied to Beijing.
Group of 12 German industrialists going to Beijing
According to a German official associated with Scholz’s visit to China, a group of 12 German industrialists are going to Beijing with him. This includes CEOs of Volkswagen (VLKAF), Deutsche Bank (DB), Siemens (SIEGY) and chemicals giant Bossf (BASFY).
Chinese Foreign Ministry spokesman Chao Lichien said in Beijing on November 1 that this year marks the 50th anniversary of the establishment of diplomatic relations between China and Germany. The two countries are comprehensive strategic partners. The current visit is the first visit by a European leader to China since the Corona period. This is also his first visit to China after Scholz became chancellor.