China’s Economy in Transformation

China at the Crossroads: Temporary Slump or New Age for Asia's Powerhouse?

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The development in China is not only closely monitored by industry, but also by politics. In 2015, the German government turned a new page by developing the first-ever strategy paper for bilateral cooperation in research and development. The “China strategy” emphasizes the opportunities for a joint development of knowledge and technologies, but it also stresses the necessity to create a level playing field regarding IP rights, market access and mutual benefits.

With the “new normal”, the cooperation and economic relations between China and its global partners will undergo a transformation. But companies managing the changes wisely, providing innovation and taking the specific requirements for technologies and services into account will find an attractive new market instead of an extended workbench — and this might make a deal whose long-term potential can only be estimated today. n

* * K. Rübberdt is Head of Biotechnology, DECHEMA e.V.

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