The European Union and European countries have released the latest economic data, but we find that Germany, as the locomotive of Europe in the past, is now holding back.
Germany, which has been shouting for decoupling, has only now found out that Germany has been decoupled.
In the just-released data, the German manufacturing PMI in August was only 391, compared to 39 in the previous month7 Compared with the further decline, it has hit the lowest level in nearly 40 months.
And the overall PMI with the eurozone is 435 In comparison, Germany is clearly dragging its feet.
And France, which is a competitor, has a PMI of 46, which is above average. Germany is not only being distanced by France, but may even be moving further and further away from the European average.
Germany's manufacturing industry is known all over the world and is an important pillar of the German economy, bringing great economic benefits and international competitiveness to Germany.
However, in recent years, Germany's manufacturing industry has faced a series of severe challenges, which has put a lot of pressure on the economy.
The energy crisis that began last year had a significant impact on Germany's manufacturing sector. As a result, many companies have had to seek to relocate their production lines to regions with lower energy costs, such as the United States.
Not only due to the energy crisis, but also due to rising financing costs, inflation and other factors, manufacturers in Germany who have not yet moved abroad have had to scale back their investments to cope with these challenges.
At the same time, Germany's services sector is also contracting. The services PMI in August was 473. Also in atrophy. And again, it is lower than the overall level of Europe.
This shows that the German economy is in a general contraction, and in this case, Germany's ** reminds of the Chinese market.
Over the past few decades, German exports of goods to China have been doing well. In particular, German cars are selling well in China and have a large market share.
But in recent years, German cars have lost their competitive edge in the Chinese market.
Obviously, while Germany is busy decoupling, China has made breakthroughs in a number of high-end manufacturing fields, which has caused German goods to lose their competitiveness in the Chinese market.
China has made breakthroughs in areas such as high-speed rail, new energy and electronic technology, becoming one of the global leaders in these fields.
Today, German companies and companies are also aware of the importance of the Chinese market, including German Chancellor Olaf Scholz, and the recent talk of decoupling has almost disappeared.
Instead, there is a lot of discussion about how to further develop the market in China and throughout Asia.
However, changing your face is likely to be slapped in the face.
Hoping to alleviate its economic difficulties by expanding exports to China is undoubtedly Germany's wishful thinking.
However, the current Chinese market is not easy to enter, China already has a large local manufacturing industry, which is itself highly competitive, which requires German companies to have a higher level of technology and innovation in order to gain a foothold in the Chinese market.
This has led some Germans to wonder if the anti-decoupling against Germany has already begun
In fact, no matter what the outcome is, it is Germany's own choice.
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