Germany urged to stop admiring Beijing and wake up to ‘China Shock 2.0’
‘China has already eaten much of German industry’s lunch and is preparing to start on dinner,’ thinktank says
Germany must stop admiring China’s success in the EU or it will sleepwalk into the kind of deindustrialisation the US experienced 25 years ago, a leading Brussels thinktank has said.
With China’s surplus with Germany having doubled between 2024 and 2025 from $12bn (£9bn) to $25bn, creating a $94bn trade imbalance, the Centre for European Reform (CER) said Europe’s largest economy risked a repeat of what happened in the US in 2001 when a sudden surge in imports permanently hollowed out towns in the American midwest. Continue reading...
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