German Chancellor Olaf Scholz said Germany and other wealthy industrial democracies in the G7 group are not interested in sharply reducing economic ties to China.
German Chancellor Olaf Scholz said Germany and other wealthy industrial democracies in the G7 group are not interested in sharply reducing economic ties to China.
Scholz, speaking at the G7 summit in Hiroshima, Japan, said that there was a “very clear understanding” among leaders of the major democratic economic powers about China following discussions on Friday.
“No one is using the word ‘decoupling’ here,” said Scholz. “That won’t be pursued by anybody.”
Scholz said G7 countries are in support of positive Chinese economic development but that it must be “embedded in the international order.”
All countries must follow international rules, Scholz said, and ensure the security of all countries.
Heads of state and government from the G7 countries discussed the situation in the Indo-Pacific region at length. Their discussion of economic issues also focused on how to create more resilience in international trade relations, according to Scholz.
It must be ensured “that there are no one-sided dependencies and that existing dependent relationships are reduced,” Scholz said. He said an important part of doing so involves greater cooperation with countries in the Americas, Africa, and Asia that have raw materials.
