Dusseldorf Chinese head of state and party leader Xi Jinping is traveling abroad for the first time since the outbreak of the corona pandemic more than two and a half years ago. In Samarkand, Uzbekistan, Xi and Russian President Vladimir Putin met on the sidelines of the two-day Shanghai Cooperation Organization (SCO) summit – the first meeting between the two since Russia invaded Ukraine.
Despite the illegal war, Putin continued to receive political support from Xi. Putin, in turn, praised Xi’s “balanced” stance on the war. Referring to the Taiwan conflict, Putin emphasized that Russia supports China’s “one country policy” and rejects Western “provocations”.
From the point of view of the Handelsblatt China expert Dana Heide, the demonstrated unity could quickly crack: “If Russia really lost the war – whatever such a defeat would look like – that would also be a big problem for Xi and would not solve it domestically look good,” says Heide in the new episode of Handelsblatt Today. But it’s not that far yet.
China’s position in the Ukraine war and its aggressive behavior in the Taiwan conflict are creating additional uncertainty among many European companies – after all, China itself could become the target of Western sanctions. According to a new study, German car manufacturers and the chemical group BASF are still investing heavily in China despite increasing geopolitical risks. In an interview with Anis Mičijević, Heide explains the background.
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Also: It was only in July that the federal government decided on a rescue package worth 15 billion euros in order to financially stabilize the gas trader Uniper, which has recently come under massive pressure.
But while the package still has to be approved by the EU Commission and shareholders, it is already clear that it will not be enough to save Uniper. Catiana Krapp from the Handelsblatt energy team explains why that is.
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