As Germany looks to diversify its interests in Asia, Vietnam is emerging as an alternative to ChinaImage: Kay Nietfeld/dpa/picture alliance
The German government’s new mantra is that Asia is more than just China. That may be obvious to many, but after 16 years of a one-sided focus on China under Angela Merkel, it represents another turning point, this time in terms of economic policy. As with Russian gas, Merkel had maneuvered Germany into an unhealthy and unwise dependency.
Under her leadership, China became Germany’s largest trading partner and the most important sales market for many companies. With every major contract concluded by German industrial groups, dependence on China grew. These days, the German government views China as a systemic rival.
One-sided focus on China
Merkel’s travel statistics speak for themselves: She visited China 12 times, always accompanied by a large business delegation. But what about Singapore or…