Germany Calls China Its Most Important Economic Partner

German Chancellor Angela Merkel said today that China has become Germany’s most important economic partner. Merkel made her remarks in Guangzhou; she is the first European leader to travel to China for talks focused on the economic crisis. Later in the day, Merkel spoke at the German Chinese Economic Forum. The chancellor said she welcomed new opportunities from China’s rapid development and that Germany and China could create a win-win situation.

Although Europe and China do have some trade disputes, China has a huge stake in keeping Europe financially healthy. The 27 nations of the European Union are its largest export market. Expect for Germany and the European Union to develop stronger economic ties. These two power blocs are prophesied to become a “mart of nations.” Europe and China will ultimately form a powerful economic alliance that will dominate global trade.