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China Market Insider China Seeks Independence from Industrial Gas Giants
For many years, industrial gases were bought in China from Linde and its competitors Air Products and Air Liquide without thinking much of it. But now Linde & Co. and their market power are suddenly seen as a problem in the People's Republic.
Beijing/China – The Ministry of Industry and Information Technology (MIIT) and several other ministries held a coordination meeting on industrial gases at the beginning of the year. There were talks of ‘choke points’, i.e. dangerous bottlenecks, andfreeing the Chinese industry from foreign monopolists, reports the financial newspaper Shanghai Zhengquan Bao.
The reason for this fundamental change in sentiment is the trade war between Washington and Beijing. Ever since former US President Donald Trump started slowing down China's economic rise with the help of trade boycotts, all the warning lights have switched on at once at the headquarters of the Chinese Communist Party.