DIHK: Germany suffers from dependency

According to Volker Treier, Chief Executive of Foreign Trade at the German Chamber of Commerce and Industry (DIHK), the German economy is particularly affected by the economic downturn in China. „This is hitting Germany particularly hard due to its dense economic integration with the People’s Republic. German exports to China fell by 8.5 percent in the first half of 2023 compared to the same period last year. Imports declined by 16.6 percent,“ Treier told the Funke Media Group’s newspapers. „Overall, nearly a million jobs in Germany depend on exports to China.“