Global Growth at Risk as Protectionism Rises, Warns Germany
🌐 The G20 Summit in Rio saw a high-stakes meeting between Chinese and German leaders, with Chancellor Olaf Scholz urging ‘dialogue over disputes’ in the EU-China electric vehicle (EV) trade debate. ‘Germany wants fair solutions, not trade wars,’ he stressed, signaling hopes to resolve tensions before they escalate.
💼 Deutsche Bundesbank VP Sabine Mauderer dropped a truth bomb Monday: ‘Trade barriers = slower growth. Nobody wins.’ With the global economy already on shaky ground, her warning echoes fears of a fragmented world where tariffs trump teamwork.
🔌 Why it matters: The EU’s probe into Chinese EV subsidies could spark retaliatory measures, hitting industries from solar panels to semiconductors. But as Mauderer notes, ‘cooperation fuels innovation’ – a mantra both Berlin and Beijing seem to (cautiously) embrace.
