"German exports to China expanded by double digits in the 1990s and 2000s, but growth began slowing a decade ago. After peaking in 2022, exports fell by nine percent in 2023 despite continued economic growth in China by far the steepest decline since China joined the WTO."
"Struggling to deal with the challenging business environment, many German companies including big names like Volkswagen, BASF, Continental and ZF... have announced restructuring and cost-cutting measures, including thousands of job cuts in Germany."
"At the Berlin Global Dialogue, the head of Mercedes-Benz, Ola Kallenius, said there's a 'very subdued atmosphere' in China in terms of consumer sentiment and that many entrepreneurs are 'waiting and watching.'"
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