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China Is Going To Save Us – Again

by Pater Tenebrarum
Acting Man

Merkel Meets Wen

Mrs. Merkel has just visited China, a big delegation in tow, for extensive talks with Wen Jiabao and his government. Germany has good reason to keep in close touch with China: it is one of its biggest export destinations these days. Since 1999 Germany’s exports to China have risen nearly ten-fold and today amount to 2.5% of its GDP. The rest of the euro area is also exporting quite a bit to China, and conversely, the euro area is also China’s biggest customer.

Back in 2007, when Berlin invited the Dalai Lama, the relationship with Beijing chilled considerably, but that is all forgotten today. Business has become the major issue, and China is understandably worried about the crisis its main trading partner goes through.

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