China has Seized the Leadership from Germany in the Export of Mechanical Engineering Products
According to Die Welt, in 2019, Germany was still ahead of China in this indicator by almost 1.4 percent, and in 2020 — even by 7 percent. At the same time, China, according to the VDMA, has long turned into the world's largest manufacturer of cars.
«China produces as many machines and industrial equipment as the United States, Germany, Japan and Italy combined. Therefore, China's entry into the first place in the export of these products was only a matter of time», said Ulrich Ackermann, head of the foreign trade department at VDMA, in an interview with Die Welt.