The former German chancellor pursued ever closer economic ties between Germany, the EU and China while in office. But in her new memoir, she glosses over many inconvenient truths about the consequences of her approach.
Then German Chancellor Angela Merkel with Chinese President Xi Jinping, Beijing, China, May 24, 2018. Credit: Michael Kappeler via AP Images
Germany is suffering from an acute case of China shock. After decades supplying a rising China with cars, machine tools and technological know-how — and reaping billions of euros in profits in the process — German companies are now struggling to compete with Chinese rivals that produce at lower cost, are more innovative, and have the backing of the powerful Chinese state. Ola Källenius, the chief executive of Mercedes-Benz, has described this new world as a “Darwinian battle” in which o
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At the height of the pandemic, Chinese vaccine maker Sinovac was a hero and one of the country’s most promising companies. But its success masked a protracted dispute between rival investors and management for control of the cash-rich company. The Wire China investigates what went wrong.
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