China's Dominance

German Chancellor Olaf Scholz's Upcoming Visit to India for Intergovernmental Consultations

Main image to the post German Chancellor Olaf Scholz's Upcoming Visit to India for Intergovernmental Consultations

German Chancellor Olaf Scholz will arrive in India for the 7th intergovernmental consultations from Thursday to Saturday, alongside key members of his cabinet. This visit is interpreted by some Western media as a strategic effort to lessen dependency on China while reviving Germany's economic growth, aligning with the government's "de-risking" agenda.

As part of a broader strategy first set in motion during Angela Merkel's leadership, Germany seeks a balanced approach toward Asia. While it acknowledges the significance of its economic interactions with China, there is an increasing recognition of India’s potential as a burgeoning economy, according to Jiang Feng, a professor at the Shanghai International Studies University.

Germany's attempts to relocate some supply chains from China to Southeast Asia have met with significant hurdles, which could create a disparity between what is desired and what is achievable. Despite these efforts, data reveal that in 2023, China remains Germany's leading trading partner for the eighth year in a row, and German investments in China have reached new heights.

The deepening economic relationship with India is seen as mutually beneficial; however, Jiang noted that India's industrial and supply chain capabilities currently remain limited, which may inhibit Germany’s pursuit of broader markets and essential raw materials. On Friday, Scholz and Indian Prime Minister Narendra Modi will hold bilateral discussions, focusing on defense collaboration, talent mobility, and enhancing economic cooperation.

Furthermore, Volker Treier from the German Chamber of Commerce emphasized the untapped potential for increased German investments in India, signaling optimism for future economic collaborations.

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May 21, 2023 | 05:09