The recession was widely expected, but beneath its surface lies a major dilemma for the German economy: to “de-risk” or depend on China, that’s the question. The question became acute because Germany’s engine sputtered partially due to faltering exports to China. German companies saw an 11.3% drop in their exports to the world’s second-largest economy so far, whereas most other European economies exported more. It means German executives still depending on China, and wanting to expand their market share there, such as Siemens, are facing an uphill battle. “I will defend my market share, and if I can, I will expand it,” Siemens CEO Roland Busch told the Financial Times this week.

Source: Forbes May 26, 2023 17:36 UTC