German expert: Maybe China is the "light at the end of the tunnel"

Source: China Radio and Television Corporation International Online

The phrase "light at the end of the tunnel" is common in spoken German. In the field of lexicology, there are many other alternative expressions, such as "optimistic", "believe in something", "have confidence", "optimistic about the future", "see a glimmer of light on the horizon" or "feel good". I personally love "finding light in the dark" – despite the difficult situation, there is still reason to be confident and optimistic.

On August 7, the content of the "Today" news column of German TELEVISION 2 let us see such a "light at the end of the tunnel". The column reported data on Germany's foreign trade exports for June this year. Unsurprisingly, Germany's foreign trade exports fell by 9.4% year-on-year in June, but the good news was that it increased by 14.9% month-on-month. Of course, this show does not stop at listing data, but allows small and medium-sized enterprises in the front line of production to also speak out in the program, such as auto parts supplier ZF and cemented carbide manufacturer No. Ngen. The CEOs of the two companies clearly pointed out in the program that while German domestic demand continues to be sluggish, the root cause of this wave of positive growth is mainly in China, and to some extent, Russia and Indonesia. The opinions of Monica Schnitzer, a well-known professor of economics at the University of Munich, have since been expressed to tell us that such opinions are by no means isolated. She said recent export data from China has had a significant impact on the German economy because the country has beaten covid-19 so well.

It is no surprise that China has played a particularly important role in helping. It is easy to understand this if one takes a cursory look at China's outstanding importance to the German economy. Preliminary statistics show that in 2019, the total import and export trade between Germany and China reached 205.9 billion euros. As announced by the German Federal Statistical Office, In 2019 China has become Germany's largest trading partner on a global scale for four consecutive years.

In addition, as a good and efficient trading partner, the other party needs to have the necessary capabilities and the necessary potential. In its commentary, the Wall Street Journal pointed out that China's GDP growth data released in July this year has exceeded the forecasts of many international economists. On a quarterly basis, China's gross domestic product fell by 6.8% year-on-year in the first quarter due to the necessary anti-epidemic efforts, but increased by 3.2% in the second quarter. According to the Wall Street Journal, China has thus become the first major economy in the world to resume economic growth after the recession affected by the new crown epidemic in the first half of this year! In the face of an unfriendly international media environment, China's data still receives great praise. The New York Times, for example, unabashedly praised China's "great leap forward" and even described it as "the only bright spot in the sluggish world economic situation." At the same time, China's efforts and restrictions to combat the new crown epidemic have proved extremely effective and are therefore appreciated. Whether it's CNN in the United States or the Financial Times in the United Kingdom, many media outlets are praising this growth as a signal of global economic recovery.

In any case, it is also a signal of the recovery of the German economy, especially the numerous small and medium-sized enterprises that support the entire German economy. In the program, German Television 2 also explained with detailed specific examples. Despite the difficult situation, China is a reason for them to remain confident and optimistic. Perhaps, China is the "light at the end of the tunnel"!

Author: Michael Borchmann Former Director General of the Department of European and International Affairs in Hesse, Germany, Honorary Advisor to the Investment Promotion Bureau of the Ministry of Commerce of the People's Republic of China

Translator: Zheng An