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German exports to China slump

According to preliminary calculations by the Federal Statistical Office, German exports to China fell by 7.9 percent year-on-year in December to €8.5 billion. The office cited China’s zero-covid strategy as the major cause. This repeatedly led to temporary factory and port closures. The International Monetary Fund (IMF) has been calling on the People’s Republic to end its strict containment strategy for some time. The restrictions are a burden on both the Chinese and the global economy, according to IMF chief Kristalina Georgieva.

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