Monday, April 22, 2024

BDI policy paper: China – Partner and Systemic Competitor

The challenge of systemic competition: A competition is emerging between our system of a liberal, open and social market economy and China’s state-dominated economy. Politicians, society and the business community in Germany and Europe need a broad public discussion and orientation on this challenge.

▪ Partnership and competition: China is and will remain a dynamically growing market, a driver of the global economy and a key sales and procurement market for German industry. German industry wishes to take advantage of the opportunities offered by economic exchange with China. However, the challenges posed by China cannot be ignored.

▪ Strengthening the competitiveness of the EU: German industry wants to compete successfully with China on a level playing field in the future. To achieve this, Germany and the EU must invest significantly more resources in research, development, education, infrastructure and innovative technologies. The EU needs an ambitious industrial policy for Europe and its companies that focuses on innovation, intelligent regulation, social partnership, infrastructure and free trade.

▪ A strong and united Europe: No EU Member State can on its own cope with the economic and political challenges posed by China. Answers can only come from a strong, reformed Europe speaking with one voice.

▪ Effective economic policy instruments: German industry needs instruments that make our market economy more resilient. They must not restrict our market economy principles, must be WTO-compliant and must be applied equally to all foreign players within the EU’s internal market.

▪ International cooperation with like-minded partners: Germany and the EU must coordinate even more actively with other liberal market economies so that common interests vis-à-vis China also lead to joint action.

Source: BDI

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