Evans Chamberlain Asset Management – Germany and China agree to several commercial trade deals with the aim of maintaining a regime of free trade.
Press Release – updated: Aug 1, 2018 09:00 EDT
TAIPEI CITY, Taiwan, August 1, 2018 – Evans Chamberlain Asset Management – Germany and China recently signed a range of commercial agreements to the value of approximately 20 billion euros with the leaders of both nations reemphasizing their commitments to a multilateral global trade regime despite the threat of a trade war with the United States.
Evans Chamberlain Asset Management analysts say the agreements, involving a number of German industrial giants, have resulted in an unusual alliance between two leading exporters who hope to defend the free global trade upon which their country’s economies so heavily depend.
German Chancellor Angela Merkel stated that both Germany and China want to maintain the order of trade according to the regulations put in place by the World Trade Organization.
Chinese Premier Li Keqiang underlined the importance of standing together against growing protectionism. Li stated that China needs a steady economic and trade foundation to enable it to develop further adding that this framework was only possible with free trade.
German Finance Minister Olaf Scholz and Chinese central bank chief Yi Gang agreed that German lenders would acquire market access to China’s financial sector.
Evans Chamberlain Asset Management analysts said that sources had reported China’s government would also soon allow German companies and banks to issue bonds in China.
Merkel voiced her hope that China and Germany could work together to prevent a global downward spiral of trade conflicts.
Evans Chamberlain Asset Management analysts say European officials have stated that China is calling for the European Union to make a strong statement against US President Donald Trump’s stance on trade policies.
Source: Evans Chamberlain Asset Management
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