Anton Boerner News
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German exports will barely grow this year amid stronger competition from the U.S. and China, the BGA exporters’ lobby said.
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German exports may reach their pre- crisis level by the end of next year as demand from emerging markets including China buoys growth in the face of a sputtering U.S. economy, the head of Germany’s export group said.
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Germany’s export-driven economic expansion will slow in 2011 as foreign sales cool and government support programs expire, Anton Boerner , head of the BGA wholesale and export federation, told Bild newspaper.
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Chancellor Angela Merkel’s resolve to defend Germany’s top credit rating in the wake of Standard & Poor’s U.S. downgrade is at odds with the likely expense of containing Europe’s debt crisis.
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German economic growth could slow by more than half next year as fellow euro-region countries continue to struggle with the debt crisis, the BGA wholesale and export federation said.
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Germany’s export-driven economy depends on a stable euro and governments are failing to tackle the shared currency’s fundamental problems, said Anton Boerner , head of Germany’s BDA exporters association.
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Trade sanctions against Libya should be avoided because they may weaken the wrong people and take too long to have an effect, Anton Boerner , head of the Berlin-based BGA foreign trade lobby, told Handelsblatt .
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German Chancellor Angela Merkel’s government shouldn’t keep the euro area intact at any price if other countries balk at tough economic revamping, Anton Boerner, the head of the country’s BGA exporters’ lobby, was quoted as saying by Handelsblatt.
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German exports will rise at the fastest pace in a decade this year and exceed the 1 trillion- euro ($1.4 trillion) level for the first time in 2011, fueled by demand for cars and machinery from outside Europe, the BGA federation said.
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The German economy will avoid a recession and expand 0.8 percent this year, a company survey by the BGA association of wholesalers and exporters showed.
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