Mercedes-Benz CEO Ola Kaellenius is not a fan of trying to reduce economic ties with China, saying it makes no sense for Germany.
Countries are increasingly looking at China with a wary eye. Many Western counties have taken action against various China-based companies, such as Huawei and TikTok, over fears they are complicit in Beijing’s espionage efforts. Some countries and many companies are taking action to reduce their dependence on China.
Kaellenius does not believe such action is in Germany’s best interests, nor does he believe it is even feasible, according to Reuters.
“The major players in the global economy, Europe, the U.S. and China, are so closely intertwined that decoupling from China makes no sense,” he said.
Citing his own company’s example, the CEO emphasized the role Chinese customers play in the automaker’s fortunes.
“Our sales figures in China are increasing and I am quite optimistic that we will also grow this year. During the corona years, the wealthier Chinese in particular made extraordinary savings,” Kaellenius continued. “This purchasing power should benefit us.”
Kaellenius’ statements emphasize the challenges of isolating a major player in the global economy.