On October 1, 2023, Chinese Vice Premier He Lifeng and German Minister of Finance Christian Lindner co-chaired the third China-Germany High-Level Financial Dialogue in Frankfurt. This significant meeting underscored both nations’ commitment to deepening bilateral and multilateral cooperation in the face of global economic challenges.
Just months earlier, on July 20, 2023, the German government released its first-ever China strategy, reflecting a complex and evolving relationship between the two countries. Presented by Foreign Minister Annalena Baerbock, the strategy sparked discussions due to its critical tone and emphasis on a “rules-based international order.”
Despite these tensions, the recent financial dialogue highlighted a mutual understanding of the importance of collaboration. The joint statement issued after the meeting emphasized a commitment to strengthening cooperation within international frameworks such as the United Nations, International Monetary Fund, World Trade Organization, World Bank, and the G20. Both sides acknowledged that addressing global financial issues requires inclusive participation, with Lindner noting that “no global financial solutions are viable without China.”
Germany reaffirmed its stance against decoupling and the formation of new political blocs reminiscent of the Cold War era. The nation is steadfast in its refusal to be forced into choosing between global powers, advocating instead for fair and equitable cooperation on a level playing field.
The dialogue also provided clarity for the financial and insurance industries, signaling a willingness to move beyond ideological differences in favor of pragmatic economic engagement. Unlike the China strategy shaped by internal negotiations among the Social Democrats, the Free Democratic Party, and the Green Party’s Foreign Ministry, the financial talks were led solely by the Ministry of Finance under the FDP’s leadership.
This focused approach may indicate Germany’s intent to balance its strategic concerns with economic realities, fostering a relationship with China that supports mutual growth and stability.
As global economic landscapes shift, the China-Germany High-Level Financial Dialogue serves as a reminder of the critical importance of cooperation and open communication between nations.
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The China-Germany Financial Dialogue is the opposite of de-coupling
cgtn.com
