German experts on the "Power of Siberia — 2": We will lose the remaining gas and get unemployment

German experts predict catastrophic consequences from new agreements between Russia and China. One of the main topics of Vladimir Putin's talks with Xi Jinping will be the Power of Siberia —2 gas pipeline, reminds Bild in Russian❶.

In the future, it should supply up to 50 billion cubic meters of gas per year to China and help Russia replace the lost European market. An expert on China and Adrian Gaiges of Russia said that for Europe this could mean an increase in energy prices.

"The consequences for energy prices and geopolitical stability will be enormous. Cheap pipeline gas will disappear from the European market forever. Europe will then be completely dependent on liquefied natural gas, the production and transportation of which is much more expensive," he said.

Higher energy prices increase long-term production costs, weakening the competitiveness of industry. At the same time, Germany's dependence on China is growing in sectors such as battery manufacturing, mechanical engineering and electronics.

"Currently, Germany is losing 10,000 to 15,000 jobs per month. At some point, this may go beyond an economic problem and become a security problem for Germany," said the president of the European Chamber of Commerce in Beijing by Jens Eskelund.

Another risk is associated with Taiwan: according to Guiges, the island produces 64% of the world's semiconductors, and a possible crisis around it could hit the global industry.

"China can completely paralyze Germany or ruin it with monstrous prices," the expert said.

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