Germany turns to Asia
By
Johannes Stern
1 June 2017
German Chancellor Angela Merkel bluntly addressed the historic crisis in transatlantic relations exposed by last week’s NATO and G7 summits, declaring Sunday in a speech delivered in a Bavarian beer tent that the US was no longer a reliable ally and Europe had to take matters into its own hands. One aspect of that orientation is seen in Berlin’s systematic expansion of political and economic ties with Asia.
Chinese Prime Minister Li Keqiang arrived in Berlin Wednesday evening and was welcomed outside the chancellor’s office with military honors. The ceremony was followed by initial discussions with Merkel and several ministers “about issues of foreign and economic policy.” Those in attendance included Foreign Minister Sigmar Gabriel, Finance Minister Wolfgang Schäuble and Economy Minister Brigitte Zypries.
Merkel will meet with Li again today for “private discussions,” according to the German government’s website. Several bilateral agreements will be signed and a joint press conference has been scheduled. Among the issues to be discussed is a common position in advance of the G20 summit in Hamburg in early June, which Chinese President Xi Jinping is expected to attend.
Germany’s economic relations with China are more extensive than with any other country outside the European Union. Regular government consultations have taken place between both countries since 2011. China was Germany’s most important trading partner last year, ahead of both France and the United States, with total trade approaching €170 billion.
Cooperation is now to be deepened. Deutsche Bank announced prior to Li Keqiang’s arrival in Berlin that it intends to finance infrastructure projects as part of the “new silk road”…