Heiner Flassbeck: China, the big threat?

China and its economic successes are on everyone’s lips. Under the previous government (and under pressure from the US), Germany already designated China a ‘systemic rival,’ whatever that may mean in concrete terms. In any case, it means that Germany does not want to maintain normal friendly relations with the country. Several years have passed since a Swabian Chancellor warned of the ‘yellow peril’ in the 1960s with the words: ‘I’m just saying China, China, China.’ We could have learned that China is far less dangerous than it appears to us, who generally know little to nothing about the country’s history, language, culture and economy.

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