Germany’s battle to break its economic addiction to China turns existential
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In a Centre for European Reform paper earlier this year, economists Sander Tordoir and Brad Setser warned that “China Shock 2.0” is similar in scale to the first one, which followed China’s accession to the WTO in 2001. Back then, China’s manufacturing surplus climbed to nearly 1pc of global GDP. In the last four years, this has grown by almost another percentage point.