world-economy

Germany Calls for European Economic Self-Reliance Amid Global Competition

Germany's Finance Minister Lars Klingbeil has urged Europe to strengthen its economic independence and prioritize regional interests in an increasingly competitive global marketplace. Speaking ahead of G-7 discussions, Klingbeil emphasized deepening cooperation on critical areas including raw materials, energy infrastructure, and supply chain resilience. The minister's remarks signal growing concern among European leaders about supply chain vulnerabilities amid geopolitical tensions. Klingbeil advocated for policies favoring European companies and closer coordination among member states to reduce reliance on external suppliers. The push reflects broader efforts to fortify the continent's economic defenses while maintaining competitiveness.