Handelspolitik: China-Schock wird zur Ökonomen-Debatte: Wie sehr trickst Peking den Westen aus?
Ökonomen sowie das US-Finanzministerium nehmen überraschend China gegen den Vorwurf in Schutz, die eigene Währung zu manipulieren, um sich Exportvorteile zu verschaffen. Was steckt dahinter?
China's export figures, announced on Friday, surpassed all expectations, increasing nearly 24 percent compared to the previous month. This confirms critics in the EU, who have been warning of a "China Shock 2.0" for months. Beijing is accused of gaining unfair export advantages through subsidies and manipulating its own currency.
The EU is now considering imposing blanket tariffs on Chinese imports for the first time, under the German Chancellor's blessing, who has recently criticized Beijing's economic policies. Although hundreds of thousands of jobs have been lost in Germany due to China's aggressive economic policies, China has unexpectedly received a lifeline in the dispute with the EU from the United States, which initiated a trade war with China under former President Donald Trump.
Germany is now the epicenter of the "China Shock 2.0". Leading US economists, including the head of the International Monetary Fund (IMF) and the US Department of Treasury, argue that the accusation of currency manipulation by China does not hold up. The undervaluation of the Renminbi has natural causes, not policy-driven. The main question now is who is right, as it has significant implications for the EU's and Germany's stance towards China: should they finally stand up to China's reckless trade policies, or risk starting a trade war with China without a valid reason that would primarily harm the German economy?
This is the new dimension of the "China Shock 2.0", making it possibly the largest economic debate of our time.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
