“Access to a scalable, inexpensive public cloud provided by a German service provider from a German data center under German law"
As opposed to AWS in German data centers, where the data stays unless a customer explicitly allows it it to move. He also forgot about the other partner, so it should read, "“Access to a scalable, inexpensive public cloud provided by a German service provider with a Chinese partner from a German data center running Chinese equipment under German law"
What he did get completely correct is the "inexpensive" part, so long as there's some level of equality in features and functionality. Can't see how that bit could fail against AWS...