During the G20 Summit in Rio de Janeiro, Germany and China leaders met to discuss pressing global issues. German Chancellor Olaf Scholz emphasized Germany's commitment to resolving European Union and China-related electric vehicle (EV) matters through constructive dialogue and negotiation.
However, the spotlight wasn’t solely on diplomatic efforts. Sabine Mauderer, Vice President of Deutsche Bundesbank, issued a stern warning against the trend of trade protectionism. She highlighted that a fragmented global economy benefits no one and that protectionist measures could lead to a significant decline in economic growth, especially during times when the global economy is already facing substantial challenges.
Reference(s):
German central bank: Trade protectionism endangers economic growth
cgtn.com
