China-Schock 2.0: Wie sollten Deutschland und die EU reagieren?

The growing export and competitive strength of Chinese companies in capital- and technology-intensive products is putting German export-oriented industry under considerable pressure. The contributions to this Zeitgespräch discuss the extent to which the ‘China Shock 2.0’ can be attributed to potential distortions of competition – for example, through heavy subsidisation – and to what extent it reveals relative weaknesses in the German economy compared with the Chinese economy. They examine whether trade policy measures, such as countervailing duties, and industrial policy measures, such as the Industrial Accelerator Act, can improve the competitive conditions and competitiveness of Germany and the EU. Positive effects, such as reducing the burden on businesses and promoting investment and scaling up, should be weighed against adverse consequences, such as more expensive intermediate inputs and increased incentives for defensive innovation in China. Rather than ‘Europe Alone’, measures should be coordinated with like-minded partners.