AFP, Frankfurt :
Alarmed by a raft of Chinese takeovers, Germany is putting the brakes on the Asian giant’s shopping spree as it sends out the message that not everything is for sale-at the risk of antagonising Beijing.
The more assertive noises coming out of Berlin are likely to dominate Economy Minister Sigmar Gabriel’s trip to China in the coming days, putting to the test the oft-vaunted “special relationship” between the top export powers.
Germans have watched with unease as Chinese enterprises have swallowed up a record number of homegrown tech companies this year, sparking fears of German knowhow and intellectual property being sold off to the highest bidder.
The wave of acquisitions has also stoked grumbles over China’s easy access to the country’s open markets, often through state-backed companies, while foreign investors there face tight restrictions.
“Germans seem to be growing more and more sceptical about China, and consequently more willing to pursue a tougher approach to Beijing,” said analyst Hans Kundnani from the German Marshall Fund.
In the clearest sign yet that Berlin could be squaring up for a battle, the German economy ministry this week said it was taking a closer look at two planned Chinese takeovers-effectively stalling both deals.
Alarmed by a raft of Chinese takeovers, Germany is putting the brakes on the Asian giant’s shopping spree as it sends out the message that not everything is for sale-at the risk of antagonising Beijing.
The more assertive noises coming out of Berlin are likely to dominate Economy Minister Sigmar Gabriel’s trip to China in the coming days, putting to the test the oft-vaunted “special relationship” between the top export powers.
Germans have watched with unease as Chinese enterprises have swallowed up a record number of homegrown tech companies this year, sparking fears of German knowhow and intellectual property being sold off to the highest bidder.
The wave of acquisitions has also stoked grumbles over China’s easy access to the country’s open markets, often through state-backed companies, while foreign investors there face tight restrictions.
“Germans seem to be growing more and more sceptical about China, and consequently more willing to pursue a tougher approach to Beijing,” said analyst Hans Kundnani from the German Marshall Fund.
In the clearest sign yet that Berlin could be squaring up for a battle, the German economy ministry this week said it was taking a closer look at two planned Chinese takeovers-effectively stalling both deals.
