2023 German study finds Germany still heavily dependent on China for imports, especially in pharmaceuticals and rare earths.
A German Economic Institute study reveals that despite efforts to diversify markets, Germany remains heavily dependent on China for various products and raw materials, with overall imports decreasing by nearly 20% between 2022 and 2023. Dependence in sectors like pharmaceuticals and rare earths has increased. The study comes ahead of Chancellor Olaf Scholz's visit to China, where concerns about fairer access to the Chinese market and excess Chinese capacity flooding Europe's market are raised.
April 09, 2024
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