Germany is calling on the European Union and China to talk it out over electric vehicles (EVs). At the G20 Summit in Rio de Janeiro, Brazil, German Chancellor Olaf Scholz stressed the importance of quickly resolving EV trade issues through conversation. “Germany hopes the EU and China can resolve EV issues through dialogue and negotiation as soon as possible, and we’re ready to help make that happen,” Scholz said.
Meanwhile, concerns are growing about how trade protectionism could hurt the global economy. On Monday, Sabine Mauderer, Vice President of Germany’s central bank, warned that breaking up the global economy doesn’t help anyone. “Trade protectionism leads to a decline in growth and would be particularly harmful when the global economy faces challenges,” she noted.
The tensions over EVs are significant because they could affect how countries trade with each other. Germany’s push for cooperation highlights the need for big economies to work together to solve disputes.
In times when the world is facing economic uncertainties, leaders like Scholz and Mauderer are emphasizing the importance of talking things through and avoiding protective barriers. Their messages remind us that unity and teamwork are key to keeping the global economy stable.
Reference(s):
German central bank: Trade protectionism endangers economic growth
cgtn.com
