If the main economy of the European Union (EU) – Germany – Berlin breaks economic ties with Beijing, it will lose six times more than if the UK leaves the EU (Brexit). About author The Reuters publication cites the results of a study by the German Institute for Economic Research (Ifo).
The automotive industry (-8.47% of value added), transport equipment manufacturers (-5.14% of value added) and mechanical engineering (-4.34% of value added) will suffer more than any other sector of the German economy . Chinese.
Florian Dorn, one of the authors of the study, believes that German companies should orient themselves to other countries to reduce their dependence on “authoritarian regimes”.
The co-author of the document believes that Berlin’s aim should be to establish partnerships and free trade agreements with like-minded countries such as the United States.
At the end of July at the German Chamber of Commerce and Industry (DIHK) reportedCompanies in Germany are forced to reduce or even shut down production due to gas prices.
Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.