German Chancellor Olaf Scholz said Monday that he wants Europe's largest economy to reduce risks in dealing with China and beef up its self-sufficiency in its raw-material supply. Germany and Europe generally need to reduce risks and dependencies on other countries, including China, he told German industry leaders ahead of a meeting of German and Chinese officials in Berlin. "The G-7 has no interest in hindering China's economic rise," Scholz said. International partnerships are therefore necessary, via closer relationships with countries such as Chile, Azerbaijan and Indonesia, Scholz added. Scholz also discussed strengthening Germany's semiconductor industry and said that by expanding investments, the country could be one of the world's largest semiconductor production centers.

Source: Wall Street Journal June 19, 2023 15:26 UTC