Merkel takes an example from China

Bloomberg noted striking similarities between German industrial policy and Beijing’s activities in this industry.

Merkel takes an example from China

An amazing observation that cannot be discounted. The Bloomberg financial portal sees striking parallels between Chinese government industrial policy and the National Industry Strategy until 2030, which was approved by the Federal Cabinet in 2019.

The Economic Stabilization Fund, created in March under the influence of the crisis caused by the coronavirus, also follows this line, according to Bloomberg.

The portal literally states that Merkel is going to establish a form of state capitalism in Germany during the crisis of the coronavirus, which comes from France to a greater extent and has already ensured success for China.

What was considered too radical and directed in the interests of the state last year will now be rapidly fulfilled, and will not leave much time for fundamental discussions.

In addition to higher costs, the National Industry Strategy until 2030 contains strategic elements that serve, for example, to protect against foreign competition or to reduce dependence on foreign supply chains.

However, along with China, the US government under President Trump went along such a path.

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