Germany is a firmbeliever in open markets
In principle, Germany is a firmbeliever in open mar-
kets and is skeptical of protectionist measures, especially
since these can lead to a vicious cycle of action and reac-
tion, which ultimately causes economic harmto every-
one involved.
Thus far, Germany has done well by taking
this position, having benefited fromglobal economic inte-
gration unlike almost any other country. The Globalization
Report 2016 issued by Bertelsmann Stiftung and Prognos
AG concludes that the real per capita gross domestic prod-
uct (GDP) in Germany would have been €1, 130 lower each
year on average between 1990 and 2014 if globalization had
not increased as it did (Bertelsmann Stiftung 2016). Recip-
rocal trade and investment flows are an important basis for
Germany’ s economic success, with China once again play-
ing an important role. With a trade volume of €163. 1 bil –
lion, China is Germany’ s largest trading partner in Asia
and the fourth largest worldwide (Statistisches Bundesamt,
22. 9. 2016).
Germany is China’ s sixth largest trading partner
and its largest in Europe (Economic and Commercial Sec-
tion of the Embassy of the People’ s Republic of China in the
Federal Republic of Germany, 29. 2. 2016).
EU Forecast
euf:ba1.8i:15/nws-01