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The Economist has highlighted the considerable exposure to the Chinese market among leading German companies. Judging from their CEOs public statements, this is not going to change any time soon. A short thread /1 https://www.economist.com/business/2021/01/07/deutschland-ag-continues-to-pour-billions-into-china
Infineon CEO Reinhard Ploss /2
"We never considered to move away from China. We strengthened our China production, especially as an example for the modules for electromobility, and will continue to do so." https://www.cnbc.com/2020/09/23/cnbc-exclusive-transcript-reinhard-ploss-ceo-infineon.html
"We never considered to move away from China. We strengthened our China production, especially as an example for the modules for electromobility, and will continue to do so." https://www.cnbc.com/2020/09/23/cnbc-exclusive-transcript-reinhard-ploss-ceo-infineon.html
Volkswagen CEO Herbert Diess /3
"Our company stands for a globalized world with over 650.000 employees, over 100.000 of them in China. Over one fourth of the Volkswagen Group’s plants are located in China." https://www.volkswagenag.com/en/news/stories/2019/10/china_s-development-is-impressive.html
"Our company stands for a globalized world with over 650.000 employees, over 100.000 of them in China. Over one fourth of the Volkswagen Group’s plants are located in China." https://www.volkswagenag.com/en/news/stories/2019/10/china_s-development-is-impressive.html
President and CEO of BMW Group Region China Jochen Goller /4
"All of our investments we committed will continue, and we are actually discussing investing more in China in the future" http://www.chinadaily.com.cn/a/202005/18/WS5ec1f0f0a310a8b24115668c.html
"All of our investments we committed will continue, and we are actually discussing investing more in China in the future" http://www.chinadaily.com.cn/a/202005/18/WS5ec1f0f0a310a8b24115668c.html
Adidas CEO Kasper Rørsted /5
"Rorsted said Adidas would 'invest heavily' in China, where he saw huge long-term potential. The firm is on track to add 2,000 stores in China and hit 12,000 by 2020" https://uk.finance.yahoo.com/news/adidas-ceo-says-fat-china-103244141.html
"Rorsted said Adidas would 'invest heavily' in China, where he saw huge long-term potential. The firm is on track to add 2,000 stores in China and hit 12,000 by 2020" https://uk.finance.yahoo.com/news/adidas-ceo-says-fat-china-103244141.html
Siemens CEO Joe Kaeser /6
“As a long-term and well-established partner of China and its industries, we support the call of the Belt and Road initiative and take another solid step forward on a larger scale and a wider scope" https://bilaterals.org/?germany-s-siemens-signs-belt-and
“As a long-term and well-established partner of China and its industries, we support the call of the Belt and Road initiative and take another solid step forward on a larger scale and a wider scope" https://bilaterals.org/?germany-s-siemens-signs-belt-and
BASF CEO Martin Brudermüller /7
“We are pleased to see our mega-investment project in China is progressing” https://www.basf.com/global/en/media/news-releases/2019/11/p-19-403.html
“We are pleased to see our mega-investment project in China is progressing” https://www.basf.com/global/en/media/news-releases/2019/11/p-19-403.html
Daimler CEO Ola Källenius /8
"China remains a large part of the potential pool for carmakers and certainly for Mercedes-Benz. It is a market that we will continue doubling down on and increasing our footprint in"
http://www.iccsino.com/news/show-htm-itemid-13673.html
"China remains a large part of the potential pool for carmakers and certainly for Mercedes-Benz. It is a market that we will continue doubling down on and increasing our footprint in"
http://www.iccsino.com/news/show-htm-itemid-13673.html
Bayer CEO Werner Baumann /9
"We have been in China since 1882, and our future growth prospects are closely linked to the market"
http://europe.chinadaily.com.cn/epaper/2017-08/11/content_30945623.htm
"We have been in China since 1882, and our future growth prospects are closely linked to the market"
http://europe.chinadaily.com.cn/epaper/2017-08/11/content_30945623.htm
Journalists should ask CEOs of these big German corporations about the long-term implications of being overexposed to one particular market. How do they avoid unhealthy dependencies? And can they monitor their supply chains in China and ensure that there is no forced labour? /End
