Volkswagen AG’s top executive Herbert Diess has warned Europe against decoupling with China and called for more cooperation, as economic relations between major Western countries and Beijing turn sour.
The attitude of European nations towards China is particularly important at the moment, as Beijing’s tough stance on Lithuania backfired within the trade bloc, and trade tension with the United States and Australia shows no sign of abating.
“It would be very damaging if Germany or the EU wanted to decouple from China,” Diess wrote on social media platform LinkedIn on Monday.
“As a global company, we will never stop advocating for globalisation, a multilateral rules-based trading system and engagement.
“We need more cooperation and presence in China, not less!”
An attached photo showed the Volkswagen chairman taking part in a virtual dialogue with Premier Li Keqiang at a Global CEO Council summit, which was held last week and attended by top executives from nearly 30 of the world’s biggest 500 companies, including Australian miners BHP and Rio Tinto, Goldman Sachs, Daimler, Panasonic and Microsoft.
More info in SCMP