China is losing importance as a market for German exporters, with data showing a steady decline in its share of total exports, a trend set to continue as Berlin and Beijing rethink their economic ties.
However, this driver of growth for Europe’s largest economy is set to lose steam in the coming years.
That China is increasingly able to produce goods it previously bought from Germany is weighing on German exports, Brzeski noted.
“At the same time, however, Germany’s import dependence on China remains high as the energy transition is currently impossible without Chinese raw materials or solar panels,” he said.
China is climbing the technological ladder, said trade expert Vincent Stamer of the Kiel Institute for the World Economy (IfW) in Germany.
However, the dependence of many companies on the Chinese market will no longer be so visible in export figures, but in their balance sheets," Stamer said.
German industry has been in the doldrums, with a PMI survey this week showing that a downturn in the manufacturing sector deepened in July.
This is the best summary I could come up with:
However, this driver of growth for Europe’s largest economy is set to lose steam in the coming years.
That China is increasingly able to produce goods it previously bought from Germany is weighing on German exports, Brzeski noted.
“At the same time, however, Germany’s import dependence on China remains high as the energy transition is currently impossible without Chinese raw materials or solar panels,” he said.
China is climbing the technological ladder, said trade expert Vincent Stamer of the Kiel Institute for the World Economy (IfW) in Germany.
However, the dependence of many companies on the Chinese market will no longer be so visible in export figures, but in their balance sheets," Stamer said.
German industry has been in the doldrums, with a PMI survey this week showing that a downturn in the manufacturing sector deepened in July.
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