Learning the lesson of being overtly dependent on a single country for its needs in the backdrop of the Russia-Ukraine conflict, Germany is looking to make amends. The European country is now mulling plans to reduce its dependence on Chinese raw materials by chalking up a new trade deal.&nbsp;

Reportedly, Economy Minister Robert Habeck stated that Germany couldn't be allowed to be blackmailed by other countries.&nbsp;

"We cannot allow ourselves to be blackmailed. If [the Chinese market] were to close, which is not likely at the moment...we would have extreme sales problems," said Habeck.

The minister also noted that 'there is no more naivety' regarding the country's policy while dealing with trade partners. Habeck added that he was against&nbsp;China’s Cosco buying a stake in a container operator at Germany’s Hafen Hamburg port.

“I’m leaning towards the fact that we don’t allow that." said&nbsp;Habeck.&nbsp;&nbsp;

Read more<a href="https://www.wionews.com/india-news/german-envoy-ackermann-calls-chinas-claims-on-arunachal-pradesh-outrageous-511580">:&nbsp;German envoy Ackermann calls China's claims on Arunachal Pradesh 'outrageous'</a>

It is pertinent to note that China is Germany's biggest trade partner for the last six years. The volume of trade between the two nations reached $246 billion in 2021. However, the trade is imbalanced as Germany is much more dependent on China.&nbsp;

According to a Reuters report, Berlin's trade deficit with Beijing has increased to almost $41 billion as of mid-2022. While German imports to China have only increased by 12.4 per cent in the first half of 2022 compared to 3.4 per cent in 2000, the German imports of Chinese goods have leapt an astronomical 45.7 per cent on a year-on-year basis.

As reported extensively by WION, ever since the Russia-Ukraine war broke out, Germany has been one of the biggest economies in Europe to face the financial brunt of it. Russia has stopped gas supply through the Nord Stream 1 pipeline which was Germany's lifeline.

Consequently, Berlin has been trying to hurriedly fill its reserves ahead of the winter season. Years after Donald Trump advised Germany to reduce its dependence on Russian gas, the country is finally waking up to reality and smelling the coffee.&nbsp;

Read more:<a href="https://www.wionews.com/india-news/india-to-host-g20-summit-on-september-9-and-10-in-2023-515726">&nbsp;India to host G20 summit on September 9 and 10 in 2023</a>

China has been known to use its advantageous position in trade imbalances to coerce sovereign governments by bending them to its will. Berlin understands the problem at hand but letting go of Chinese products without a proper supply chain at home will not be a small challenge.&nbsp;

(With inputs from agencies)

WATCH WION LIVE HERE:&nbsp;

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Learning the lesson of being overtly dependent on a single country for its needs in the backdrop of the Russia-Ukraine conflict, Germany is looking to make amends.

Learning the lesson of being overtly dependent on a single country for its needs in the backdrop of the Russia-Ukraine conflict, Germany is looking to make amends. The European country is now mulling plans to reduce its dependence on Chinese raw materials by chalking up a new trade deal. Reportedly, Economy Minister Robert Habeck stated that Germany couldn't be allowed to be blackmailed by other countries. "We cannot allow ourselves to be blackmailed. If [the Chinese market] were to close, which is not likely at the moment...we would have extreme sales problems," said Habeck. The minister also noted that 'there is no more naivety' regarding the country's policy while dealing with trade partners. Habeck added that he was against China’s Cosco buying a stake in a container operator at Germany’s Hafen Hamburg port. “I’m leaning towards the fact that we don’t allow that." said Habeck. Read more: German envoy Ackermann calls China's claims on Arunachal Pradesh 'outrageous' It is pertinent to note that China is Germany's biggest trade partner for the last six years. The volume of trade between the two nations reached $246 billion in 2021. However, the trade is imbalanced as Germany is much more dependent on China. According to a Reuters report, Berlin's trade deficit with Beijing has increased to almost $41 billion as of mid-2022. While German imports to China have only increased by 12.4 per cent in the first half of 2022 compared to 3.4 per cent in 2000, the German imports of Chinese goods have leapt an astronomical 45.7 per cent on a year-on-year basis. As reported extensively by WION, ever since the Russia-Ukraine war broke out, Germany has been one of the biggest economies in Europe to face the financial brunt of it. Russia has stopped gas supply through the Nord Stream 1 pipeline which was Germany's lifeline. Consequently, Berlin has been trying to hurriedly fill its reserves ahead of the winter season. Years after Donald Trump advised Germany to reduce its dependence on Russian gas, the country is finally waking up to reality and smelling the coffee. Read more: India to host G20 summit on September 9 and 10 in 2023 China has been known to use its advantageous position in trade imbalances to coerce sovereign governments by bending them to its will. Berlin understands the problem at hand but letting go of Chinese products without a proper supply chain at home will not be a small challenge. (With inputs from agencies) WATCH WION LIVE HERE:

Once bitten, twice shy: After Russia lesson, Germany to reconsider trade deal with China

Germany recently blocked the acquisition of a satellite and radar technology firm IMST by a Chinese state-backed missile maker called “China Aerospace and Industry Group” (CASIC).

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This was done in order to protect national security concerns, as per a government document seen by Reuters o Tuesday.

Tensions between Germany and China remain very high currently. Even though both the countries have maintained close trade ties in the last&nbsp; few years, they are warring over fair trade practices, especially concerning state-backed enterprises, and the limitations on market access.

Germany perceives IMST as the key provider of satellite communication in the country. The country also depends on IMST for radar and radio technology. A government document that their technological prowess is important for national security.

Additionally, IMST’s knowledge in the domain is critical to the construction of infrastructure around the country - especially in terms of building 5G and 6G networks, according to the document.

Also read:&nbsp;<a href="http://13.235.153.162/world/wolf-brigade-44-germany-bans-neo-nazi-group-police-raids-homes-of-11-members-346728" hreflang="en">'Wolf Brigade 44': Germany bans neo-Nazi group; police raids homes of 11 members</a>

"IMST is also an important partner of the German Aerospace Center (DLR). In various cases, IMST's products and services were also the subject of deliveries to the Bundeswehr armed forces," the document said.

A spokesperson for the German economy ministry claimed that the cabinet had met recently to block a foreign investment by a non-European investor on the grounds of potential threats to national security, without naming the company directly.&nbsp;

Also read:&nbsp;<a href="http://13.235.153.162/world/woman-in-germany-leaves-75-million-to-neighbours-347652" hreflang="en">Woman in Germany leaves $7.5 million to neighbours</a>

According to the Chinese foreign ministry, they had no knowledge of the case, but added that they encourage companies to undertake “mutually beneficial” investment overseas.

"We hope that countries including Germany will provide Chinese companies that are operating normally with a fair, open and non-discriminatory market environment, and not politicize normal economic and trade cooperation, (or) use 'national security' as a pretext to engage in protectionism," the statement added.

Germany recently blocked the acquisition of a satellite and radar technology firm IMST by a Chinese state-backed missile maker called “China Aerospace and Industry Group” (CASIC).

Germany recently blocked the acquisition of a satellite and radar technology firm IMST by a Chinese state-backed missile maker called “China Aerospace and Industry Group” (CASIC). This was done in order to protect national security concerns, as per a government document seen by Reuters o Tuesday. Tensions between Germany and China remain very high currently. Even though both the countries have maintained close trade ties in the last few years, they are warring over fair trade practices, especially concerning state-backed enterprises, and the limitations on market access. Germany perceives IMST as the key provider of satellite communication in the country. The country also depends on IMST for radar and radio technology. A government document that their technological prowess is important for national security. Additionally, IMST’s knowledge in the domain is critical to the construction of infrastructure around the country - especially in terms of building 5G and 6G networks, according to the document. Also read: 'Wolf Brigade 44': Germany bans neo-Nazi group; police raids homes of 11 members "IMST is also an important partner of the German Aerospace Center (DLR). In various cases, IMST's products and services were also the subject of deliveries to the Bundeswehr armed forces," the document said. A spokesperson for the German economy ministry claimed that the cabinet had met recently to block a foreign investment by a non-European investor on the grounds of potential threats to national security, without naming the company directly. Also read: Woman in Germany leaves $7.5 million to neighbours According to the Chinese foreign ministry, they had no knowledge of the case, but added that they encourage companies to undertake “mutually beneficial” investment overseas. "We hope that countries including Germany will provide Chinese companies that are operating normally with a fair, open and non-discriminatory market environment, and not politicize normal economic and trade cooperation, (or) use 'national security' as a pretext to engage in protectionism," the statement added.

Germany blocks Chinese takeover of satellite firm citing security concerns

A German company involved in the business of laser communication said it is pulling out of uncompleted exports deal with a Chinese firm after the government barred it from supplying hardware to the country.

Mynaric on Friday said it had urged official clearance of a scheduled export to a Chinese firm.

Also read |&nbsp;<a href="https://www.wionews.com/world/thousands-of-students-return-as-schools-reopen-in-germany-317875">Thousands of students return as schools reopen in Germany</a>

The company said it received a notification from the government that prohibits Mynaric from delivering the hardware to China.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/china-criticises-germanys-suspension-of-extradition-treaty-with-hong-kong-317430">China criticises Germany's suspension of extradition treaty with Hong Kong</a>

When asked about the same, German Economy Ministry spokesman Korbinian Wagner on Monday said the government typically doesn't react on individual cases&nbsp;

Mynaric said it is ending business in China immediately and would withdraw the uncompleted transactions with the Chinese customer

The Germany company said it "considers its clear commitment to national interests of its core markets as critical to its business success," reported news agency the Associated Press.&nbsp;

"This commitment is even more important now, considering pending governmental opportunities in the US, a market that is currently gaining significant momentum."&nbsp;

Many countries have started considering their relations with Beijing primarily due to the coronavirus outbreak.

A number of other issues including Huawei and China's authoritarian measures in Hong Kong have received a lot of international criticism.&nbsp; 
&nbsp;

A German company involved in the business of laser communication said it is pulling out of uncompleted exports deal with a Chinese firm after the government barred it from supplying hardware to the country.

A German company involved in the business of laser communication said it is pulling out of uncompleted exports deal with a Chinese firm after the government barred it from supplying hardware to the country. Mynaric on Friday said it had urged official clearance of a scheduled export to a Chinese firm. Also read | Thousands of students return as schools reopen in Germany The company said it received a notification from the government that prohibits Mynaric from delivering the hardware to China. Also read | China criticises Germany's suspension of extradition treaty with Hong Kong When asked about the same, German Economy Ministry spokesman Korbinian Wagner on Monday said the government typically doesn't react on individual cases Mynaric said it is ending business in China immediately and would withdraw the uncompleted transactions with the Chinese customer The Germany company said it "considers its clear commitment to national interests of its core markets as critical to its business success," reported news agency the Associated Press. "This commitment is even more important now, considering pending governmental opportunities in the US, a market that is currently gaining significant momentum." Many countries have started considering their relations with Beijing primarily due to the coronavirus outbreak. A number of other issues including Huawei and China's authoritarian measures in Hong Kong have received a lot of international criticism.

German firm says ending business with Chinese customer following government's disapproval

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Once bitten, twice shy: After Russia lesson, Germany to reconsider trade deal with China

Germany blocks Chinese takeover of satellite firm citing security concerns

German firm says ending business with Chinese customer following government's disapproval