Coronavirus may jeopardize German economy because of its reliance on China

Coronavirus may jeopardize German economy because of its reliance on China

Since the coronavirus outbreak started, the Chinese economy has begun to suffer. As a result, Germany, and particularly its car industry, could also lose out as China is its most important trading partner. The outbreak of the coronavirus in China could weaken German growth, according to the most recent calculations published by the German Institute of Economic Research (IFO). This is not only due to weakened Chinese demand but also because German companies rely on Chinese workers and suppliers. If the Chinese economy were to shrink by 1%, German growth…

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