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Adam Tooze on the Big Misconceptions of the Chinese Economy
Odd Lots
Compete or Be Left Behind
Chronic trade surplus countries like China and Germany share structural similarities and have historically complemented each other's economies. The synergy lies in China's production utilizing German equipment, with American consumers acting as a bridge for both economies. German companies recognize the necessity of investing in China due to its enormous and rapidly expanding market, particularly in sectors like heavy chemicals and automotive manufacturing. German firms, such as VW, must adapt to compete effectively in the global marketplace, particularly as US companies lean towards national protectionism. Active investment in China is crucial for maintaining competitiveness at the technological frontier.
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