How will we deal with China as a competitor in the future?
China is a key partner for the mechanical engineering industry. The country is the second most important export market for our industry and the second most important destination for foreign investment. In automation and digitalization in particular, there is enormous potential for the capital goods industry on the Chinese market.
We had long hoped that, as China became increasingly successful economically, it would develop into an open and pluralistic society. This has not been the case. China is a system competitor, including in business. Through its centrally controlled industrial policy, the country is bidding to catch up with and even overtake its competitors in terms of technology. The “Made in China 2025” strategy is at the heart of this. Were this to be a success, it would directly affect the German mechanical engineering industry in terms of its exports to both China and third-country markets.
The working group is looking at the framework conditions for economic action that influence business in and with China in the long term. In addition, it hopes to use various analyses to draw conclusions on how companies in the German mechanical engineering industry can continue to enjoy success on the market.
A podium discussion will examine the question of what policymakers and business can do together to encourage China to open its market further. The EU is by far the country’s most important trading partner and is currently trying to put an end to the unequal market access for European companies in China using various measures, such as the quick conclusion of the bilateral investment treaty. In addition, experts on China will discuss with VDMA members how business can be made a success in the future, too. After all, it is ultimately the companies active on the market that will benefit from improved framework conditions.
