China's emergence as a market economy in the 2000s provided a massive boost to German companies and has proved a big contributor to the overall health of the German economy since.
That China is increasingly able to produce goods it previously bought from Germany is weighing on German exports, Brzeski noted.
However, the dependence of many companies on the Chinese market will no longer be so visible in export figures, but in their balance sheets," Stamer said.
For example, many German carmakers are increasingly producing locally for the Chinese market.
Weaker demand from China has had a strong impact on the German manufacturing sector.
Persons:
Fabian Bimmer, Joerg Kraemer, Carsten Brzeski, Brzeski, Vincent Stamer, Stamer, Rene Wagner, Maria Martinez, Christina Fincher
Organizations:
REUTERS, Reuters, ING, Reuters Graphics Germany, Kiel Institute, PMI, Thomson
Locations:
Bremerhaven, Germany, China, BERLIN, Berlin, Beijing, U.S, United States