Economists accuse minister of imitating China as he insists country needs to adapt its rules to reality
German economy minister Peter Altmaier. REUTERS/Axel Schmidt.
The new policy envisages the state supporting and protecting “national champions” in Germany and the EU so they can better compete with rivals from China and the US. Germany and France have earmarked €1.7bn to support the local development and production of battery cells for electric vehicles to break the dependence of EU vehicle makers on Asian suppliers.
The German government should continue to push for a level playing field in relations with Beijing that means “opening up China rather than imitating it”, Felbermayr said.
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