Trade embargo on China would cost Germany dear

Loss of trade with China would cost Germany six times more than Brexit, according to a study by Germany’s Ifo institute. Germany’s automotive sector would lose 8.47 percent of its value and its mechanical engineering segment would lose 4.34 percent. The warning comes amid a potential confrontation with Beijing over Taiwan, with the EU having promised harsh, Russia-type sanctions against China if it invaded its Western-allied neighbour.

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