Back then one idea was to aggressively push for companies to disclose details of their China business, and even to stress-test their exposure, according to a draft seen by Reuters.
The compromise likely stems from the realisation that China is simply too strategic to quit quickly without inflicting significant pain.
The People’s Republic is also Volkswagen's largest market, accounting for around 40% of Volkswagen's global unit sales in 2022.
Even so, executives will be relieved they can for the most part undertake China de-risking at their own pace.
Reuters Graphics Reuters GraphicsFollow @ywchen1 on TwitterCONTEXT NEWSGermany’s first China strategy, published on July 13, outlined possible responses to an "increasingly assertive" Beijing, such as adjusting export controls and outbound investment restrictions.
Persons:
Martin, Thomas Schäfer, Brudermüller, “, Li Qiang, George Hay, Streisand Neto
Organizations:
Reuters, BASF, Volkswagen, Greens, Reuters Breakingviews, BASF ”, ifo, Reuters Graphics Reuters, Union, VW, European Union, Thomson
Locations:
China, Berlin, People’s Republic, Brussels, Washington, Taiwan, Republic, Germany, Beijing