German Chancellor Olaf Scholz has arrived in China on a visit focused on the increasingly tense economic relationship between the sides and differences over Russia's invasion of Ukraine.
FILE - German Chancellor Olaf Scholz gestures as he arrives at the Party of European Socialists Leaders Conference, at the Palace of the Parliament, the second largest administrative building in the world after the Pentagon, in Bucharest, Romania, on April 6, 2024. Scholz arrived in China on Sunday, April 14, 2024 on a visit focused on the increasingly tense economic relationship between the sides and differences over Russia’s invasion of Ukraine.
Scholz is also scheduled to visit the financial hub of Shanghai during his three-day visit, before traveling to the capital, Beijing, to meet with Chinese leader Xi Jinping and Premier Li Qiang. Germany’s economy has benefited from China’s demand for investment and manufactured items from cars to chemicals, but those ties have frayed amid increasing competition from Chinese companies and tightened regulations. Political interference has also been blamed for a sharp drop in foreign investment.
Despite that, China remained Germany’s top trading partner for the eighth straight year in 2023, with 254.1 billion euros in goods and services exchanged between the sides, slightly more than what Germany traded with the U.S.
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