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  • Writer's pictureBailingguo News


Germany’s export-dependent economy is suffering from a Brexit shock that along with the rise in global trade tensions and structural changes in the car industry, threatens to push Europe’s economic powerhouse into recession. In the three months to June, exports to Britain dropped 21 per cent quarter on quarter, the biggest fall since the financial crisis a decade ago.


Car production has taken the biggest hit, falling by 17% over the past year, owing in part to slowing demand from big trading partners, such as China and Britain, and a shift in consumer tastes away from German diesel motors. All this, and an escalation in the trade war between America and China, has battered business confidence.


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