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China Concerned With Eu’s “De-Risking” Allegations: FM

China commends the announcement by Germany and the European Union (EU) of not seeking to decouple from China, but is also concerned about the allegations by the EU regarding “de-risking,” visiting Chinese State Councilor and Foreign Minister Qin Gang said here on Tuesday.

Qin made the remarks during a press conference along with German Foreign Minister Annalena Baerbock after their talks in Berlin.

It is necessary to identify risks and figure out where they come from first when talking about “de-risking,” Qin said, in reply to a question regarding the notion of “de-risking” through diplomacy of relations with China, a term coined by Germany and the EU.

China does not export its system, sticks to its peaceful development path, pursues an opening-up strategy featuring mutually beneficial and win-win results, abides by and upholds the international order based on international laws, opposes acts of hegemony, domineering, and bullying, Qin said, adding that China will never perpetrate activities like sabotaging the Nord Stream 2 pipelines.

China is willing to join hands with other countries to meet challenges together and build a community with a shared future for mankind, Qin said.

“It is opportunities instead of crises, cooperation instead of confrontation, stability instead of turmoil, sureness instead of risks that China has been exporting,” he said.

The international supply and industrial chains came into their current shape as a result of economic globalization and the market economy, both of which are ardently advocated for and promoted in European countries.

It has been over 40 years since China promulgated its reform and opening-up policy and economic, trade and investment cooperation between China, Germany and other European countries have made fruitful achievements ever since, Qin said.

“China, Germany and the EU benefited immensely from the cooperation,” he said.

“As a matter of fact, China and the EU are two big markets growing together and they are partners for win-win cooperation,” said the minister.

China is committed to achieving high-quality development and will continue to pursue the strategy of high-standard opening up. China will create a conducive investment environment based on a market economy, rule and order, and internationalization. Companies from Germany and other European countries are welcome as always to explore the market in China, Qin said.

“We appreciate the announcement by Germany and the EU that they would not seek to decouple from China, but we’re still concerned about the allegations by the EU regarding ‘de-risking'”, Qin said.

If (some countries or parties) pursue de-sinicization in the name of de-risking, they would be actually breaking away from opportunities, cooperation, stability and development, said Qin.

Germany, the EU and China should all adhere to international trade rules and the spirit of contract, continue to open up to each other, he said, adding that economic, trade and investment cooperation must not be politicized and the market should not be interfered with.

Qin warned that it is worth noting that some countries are launching a “new Cold War”. They have been breaking international rules, stoking ideological confrontation and bloc confrontation, attempting to decouple with others and sever supply chains, abusing the monopoly power of their currency to impose long-arm jurisdiction and unilateral sanctions on other countries. In addition, they have been exporting their own inflation, financial crisis, and creating severe spillover effects. “These are real risks that should be paid attention to,” said Qin.

The “new Cold War”, if initiated, would harm not only the interests of China, but also the EU’s, Qin warned.

Germany’s gross domestic product (GDP) would shrink by 2 percent, or 60 billion euros (66 billion U.S. dollars), if it decoupled with China, Qin said, citing a report released recently by an Austrian think tank.

“We must firmly stand against the ‘decoupling with others and severing supply chains’, maintain keen vigilance against the ‘new Cold War’ and join hands to ensure a stable and smoothly-functioned international industrial and supply chains,” said Qin. 

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