(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.
German export growth has plunged from around 8% year-over-year to next to nothing. It’s easy to blame China’s slowing economy for Germany’s weakness, but that’s only a part of the story, research by Bloomberg Economics shows: about half of the export slowdown is accounted for by Germany’s euro-area trading partners and half stems from the rest of the world. Within that, only about 1 percentage point is directly related to weaker trade with China.
To contact the staff on this story: Jamie Rush (Economist) in London at jmurray126@bloomberg.net
To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net
©2019 Bloomberg L.P.