German Chancellor Olaf Scholz on Monday warned of the risks to global trade from rising protectionism.
During a visit to the Hannover Messe, a world-leading trade fair in the northern German city, Scholz said he is working to “ensure that the misguided path of protectionism does not destroy the entire world’s growth prospects.”
The outgoing chancellor said no country can build, sell and refine highly specialized technology on its own.
“Even large countries such as the US and China are too small to develop specialized products that are only suitable for their own market,” Scholz argued.
He added: “By exchanging ideas, we can achieve better progress, better prosperity and better growth throughout the world.”
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