Germany losing export shares to China in EU market, says German development bank
Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
German President Frank-Walter Steinmeier assured NATO allies on Monday that Germany would enhance its military and infrastructure contributions to Europe's defense, in response to the ongoing war in Ukraine and growing concerns over the U.S. commitment to European security.
German President Frank-Walter Steinmeier assured NATO allies on Monday that Germany would increase its commitment to Europe's defence, marking a significant shift from the past when the country joined the alliance more than 70 years ago. Speaking at a ceremony in NATO's Brussels headquarters, Steinmeier emphasized that Germany is now in a pivotal position as Russia's invasion of Ukraine continues and the U.S. presses its European partners.
“We’ve received the message, and you can count on us,” Steinmeier said, adding that Germany would strive to make its military and infrastructure a cornerstone of conventional defence in Europe.
Germany's commitment comes at a time of major change. Under the leadership of the incoming conservative chancellor, Friedrich Merz, Berlin has approved a historic fiscal plan that includes a €500 billion ($569 billion) special fund for infrastructure and defence, signalling a break from the country’s longstanding policy of fiscal restraint.
Steinmeier acknowledged Germany’s complex history and how, until now, the country’s role in the world had been shaped by caution and integration into larger structures such as NATO and the European Union. However, he said, “Putin has brought war back to this continent,” and a poorly armed Germany poses a greater threat to Europe than a well-equipped one.
Germany's increase in defence spending follows growing concerns about Europe's security and the waning reliability of U.S. support, particularly after President Donald Trump’s criticism of European allies. Germany, which joined NATO in 1955 during the Cold War, has significantly bolstered its defence strategy since the reunification of East and West Germany in 1990.
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Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
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