German economy minister tells firms to diversify beyond China in AsiaChristian Fernsby ▼ | October 19, 2020
German companies should diversify to other Asian markets beyond China to be less dependent on single supply chains which the pandemic has shown were vulnerable to interruption, economy minister Peter Altmaier said.
Germany Peter Altmaier
He alluded to bottlenecks in the supply of medical equipment for the German market in spring when China was at the height of the pandemic. "We naturally want to diversify our supply chains," the minister said.
Singapore and South Korea could offer promising opportunities as they had handled the coronavirus crisis very well and regained their economic strength early on, he said. ■