China, from partner to rival of Germany - News
- 4 yıl önce
China, from partner to rival of Germany.
The partnership with China, which supported the German economy for decades, was wobbly, threatening economic recovery for both Berlin and Europe in the post-Covid-19 period in the midst of the European giant. Asia rose strongly.
Germany has provided China with a variety of advanced machinery and equipment to operate the economy for decades. Thanks to that, the German economy can recover quickly from the global financial crisis in 2008. But German business leaders say this model of cooperation is no longer viable when China moves from partner role to rival Germany, especially in the field of machinery and equipment manufacturing and construction.
Chinese companies increase competition.
Germany's GDP could decline by 5.8 to 7.1 percent this year, according to forecasts by German economists, still better than the decline of other Western economies but less. much more than China's forecast 2.5 percent growth.
While German exporters are benefiting from the rebound in international trade, they have not received as much support from the Chinese market as they did a decade ago. In July, German export sales increased from the previous month but still 11 percent lower than the same period last year.
The partnership with China, which supported the German economy for decades, was wobbly, threatening economic recovery for both Berlin and Europe in the post-Covid-19 period in the midst of the European giant. Asia rose strongly.
Germany has provided China with a variety of advanced machinery and equipment to operate the economy for decades. Thanks to that, the German economy can recover quickly from the global financial crisis in 2008. But German business leaders say this model of cooperation is no longer viable when China moves from partner role to rival Germany, especially in the field of machinery and equipment manufacturing and construction.
Chinese companies increase competition.
Germany's GDP could decline by 5.8 to 7.1 percent this year, according to forecasts by German economists, still better than the decline of other Western economies but less. much more than China's forecast 2.5 percent growth.
While German exporters are benefiting from the rebound in international trade, they have not received as much support from the Chinese market as they did a decade ago. In July, German export sales increased from the previous month but still 11 percent lower than the same period last year.