On October 19 local time, German Chancellor Merz spoke with Bloomberg TV in Berlin, stating that Europe has the ability to leverage its advantages and overcome economic downturns. He reiterated plans to increase investments in areas such as artificial intelligence and to carry out comprehensive reforms of Germany's social welfare system.
Recently, Mertz has faced several political setbacks. He stated that the EU must firmly maintain its position and fully leverage the influence of its 450 million consumers in order to catch up with global competitors.
Mertz also discussed an agreement reached by EU leaders last week. According to this agreement, the EU will receive a new set of tools to address coercive practices in the field of trade. These tools include one that can exclude countries such as China from the EU's single market.
Mertz said, "We do not want to have a trade war with China."
However, he also claimed that the level of unity shown by EU leaders in taking action was surprising to him.
Mertz said, “The heads of government or national leaders from 27 member states have clearly stated that we must address issues such as imbalances, overcapacity, subsidies, and currency undervaluation. Moreover, we feel that we have enough strength to discuss these issues.”
While Mertz made these remarks, a two-day investor summit was in progress. The German government and artificial intelligence chip manufacturer NVIDIA issued a joint statement, announcing their cooperation in developing industrial artificial intelligence.
Reports say that this is the first time the German government has hosted such an event in Berlin, indicating Germany’s efforts to regain its economic strength. At the same time, Germany faces multiple challenges, including fierce competition from China, tense transatlantic relations, and domestic political instability.
