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No one is suggesting that Germany should stop trade with China, but Beijing's investments in critical sectors should be scrutinized. This was stated by Robert Habeck, Germany's economics minister.

"Nothing speaks against continuing to maintain economic relations with China," Habeck said at a conference organized by the Sueddeutsche Zeitung newspaper in Berlin. ""It is completely impossible for the German economy, to now quickly say goodbye to it, but everything speaks against closing your eyes and hoping the situation doesn't get difficult."

"That means in the critical sectors of our economy, we have to judge and prohibit the strategic influence of critical investments," Habeck said.

Germany is seeking to reduce its dependence on Beijing and is developing a new strategy toward China, but this could prove challenging given the deep trade ties between Europe's and Asia's largest economies.

Habeck noted that Europe is also working to resolve a trade dispute with the United States after Washington passed the Inflation Reduction Act, which he said could hurt European firms and drive investment out of the continent.

From a European perspective, the law is a violation of World Trade Organization rules that cannot be enacted in the long term, the minister said.

"What does this mean for Europe? We must act more quickly decisively and resolutely. It's not a question of money at all ... but we are too slow in spending it," he added.

Earlier this year, Germany allocated 200 billion euros to fund changes in industry through 2026, including climate protection, hydrogen technology and the expansion of electric vehicle charging networks.

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