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Time for Berlin to sober up from China-phobia paranoia
http://www.ecns.cn/voices/2016/10-28/232040.shtml
Oct 28th 2016, 13:50
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Berlin's latest stalling of a Chinese firm's attempt to buy a German lamp producer is yet another sign that China-phobia is still around.
Local business news magazine WirtschaftsWoche reported Thursday that the German Economy Ministry has suspended a bid of Chinese companies to take over Osram's general lighting lamps business. Berlin has initially rejected and later decided to review the acquisition, which would take months.
The alarming move came only days after Berlin, without explanation, re-opened review of the sale of the German semiconductor maker Aixtron to a Chinese company for "security concerns," in a sudden annulment of the clearance certificate it issued last month that confirmed the buyer's credibility.
Germany's repeated scrutiny of deals with Chinese investors does not bode well for potential purchasers from other parts of the world.
If such relentless government interference continues, German tax payers will bear the brunt of their government's unpredictability and untrustworthiness in global trade policies. The country's protectionist moves could also rid its troubled firms of the chances for revival thanks to overseas capital.
For years, Germany has enjoyed the reputation of being one of the world's leading exporters and main beneficiaries of free trade. It is more than disheartening to see the country becoming increasingly inclined to set barriers for Chinese enterprises, leaving investors worldwide to question Berlin's sincerity in securing an open and transparent investment climate.
Recent years have also seen a deteriorating investment climate in Germany.
Data released recently by the German Central Bank showed that for the past seven years, German non-financial businesses would rather sit and see their savings accumulate to the mammoth amount of 50.04 billion U.S. dollars than doing investment in the country.
Many in Germany worry that Chinese companies are just interested in "stealing" technologies and jobs through their takeovers. In fact, there are multiple successful examples that have proved these concerns are as wrong as they are unnecessary.
Instead of seeking short-term gains, Chinese firms now prefer localizing their strategies and promoting acquired brands in China for win-win results.
After intervening in a string of Chinese bids in less than a week, it is time for Berlin to let go of its delusional "China threat" paranoia, and help pull the world out of a lackluster recovery.
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