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6/30, 1:12 PM (Source: TeleTrader)
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VW-1.41%

192.35
Chart for: VOLKSWAGEN AG ST O.N.

VW CEO: Inflation would 'explode' without China trade

Volkswagen CEO Herbert Diess told Spiegel in an interview on Thursday that the inflation in Germany would "explode, without the deals with China."

Diess criticized German authorities' attitude towards China, saying that Berlin is underestimating how much it depends on the latter. The Volkswagen CEO underlined that "Germany would look completely different" as there would be less growth, prosperity and employment if the country were not to cooperate with Beijing.

In response to Volkswagen coming under fire for operating in China's Xinjiang province, which has been marked as an area of systematic discrimination against the Uyghur community, Diess stated that there were no traces of forced labor in the company's plant located there.

Baha Breaking News (BBN) / AY