BERLIN (dpa-AFX) – “Young World” on the crisis in German industry:
“The US tariffs imposed are damaging German exports. Secondly – and probably most seriously as a secular trend – Chinese companies are now producing at least equivalently and, above all, more cheaply in the three sectors that are crucial for the Federal Republic’s industry – mechanical engineering, automotive engineering, chemicals. Thirdly, the sudden failure of Russian gas deliveries has caused manufacturing costs to rise significantly, especially in the energy-intensive chemical industry. With Nord Stream II, the Federal Republic would have become a hub for gas deliveries to the entire EU and would have significantly strengthened its continental power. The USA had no interest in this, and it would not be too bold to see the war in Ukraine as a war against the local economy.”/yyzz/DP/nas