Trade between Germany and China rose to a record level last year, making the Asian country Germany's most important trading partner for the seventh year in a row despite political warnings in Berlin about excessive dependence.
Trade divergence is costly. Firms and people tend to like paying less for goods when they’ve derived from the most efficient trade options than to pay more for goods because of political reasons. Especially if those political reasons are mostly associated with the geopolitical interests of the elite and not their own interests.
Trade has a funny way of overcoming political nonsense.
Trade divergence is costly. Firms and people tend to like paying less for goods when they’ve derived from the most efficient trade options than to pay more for goods because of political reasons. Especially if those political reasons are mostly associated with the geopolitical interests of the elite and not their own interests.
Trade has a funny way of overcoming political nonsense.