Bundesbank's Nagel urges Europe to diversify Asia trade, cut China import dependencies
Bundesbank President Joachim Nagel used a Bangkok panel to set out how Europe should recalibrate its economic relationship with Asia. The remarks matter less as policy than as a signal of how Germany's central bank frames supply-chain resilience, the Savings and Investments Union, and competitiveness. A short read for anyone tracking EU trade strategy and industrial-policy direction.
- Nagel said that since 2019 EU exports to China have remained broadly stable while imports from China have increased substantially.
- He welcomed the EU-India trade agreement reached this year and the agreements with Indonesia concluded last year.
- He cited the ESMC joint venture in Dresden, with partner TSMC, and Infineon's new site near Bangkok opened two weeks earlier as examples of resilient value chains.
- He called for implementing the Savings and Investments Union so European start-ups can access enough venture capital to scale and compete globally.
Executive summary
Bundesbank President Joachim Nagel addressed a DZ Bank lunch reception in Bangkok on 17 October 2026, speaking to the panel topic "Paths to prosperity: Forging growth, trade and investment between Europe and Asia." He framed his remarks around the classical…
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Source documents
https://www.bundesbank.de/en/press/speeches/remarks-on-the-panel-topic-paths-to-prosperity-forging-growth-trade-and-investment-between-europe-and-asia--964898Read by Regulus 19 Oct 2026 at 04:52 UTC
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