Russian media: The German Institute of Economic Research said that Germany is completely dependent on China!
Companies that depend on Chinese goods never publish data; it's a business secret.
On June 21, the Russian media "Today's China" published an article.
China is increasing its exports to the EU, and Europeans are worried that their own industries are under threat.
Statistics show that deliveries from the United States' Podcelestial in May decreased by one-third (34.5%) compared to the same period last year.
Meanwhile, China's exports to France and Germany increased by 24.1% and 21.5%, respectively.
This indicates that Chinese producers are actively shifting production to the European market.
The latest report from the German Institute of Economic Research shows that many sectors of the EU economy competing with Chinese goods are on the verge of bankruptcy.
The reason is that Chinese products are of similar high quality but much cheaper!
In the German market, more than half of vitamin E comes from China, and more than half of manganese dioxide is also produced in China (this substance is used in alkaline batteries).
German consumers hope to buy LED lights, power supplies, fire or burglar alarms from China in stores...
The German Institute of Economic Research wrote that Germany's (and any other European country's) actual dependence on China may be even higher.
In fact, large companies that have long relied on importing components from China do not publish their statistics at all; this is ostensibly a business secret.
Researchers concluded that German authorities have not yet fully recognized the extent of their dependence on China.
Source: https://www.toutiao.com/article/1835485875610633/
Disclaimer: This article only represents the views of the author.