|
The third German-Chinese ministerial consultations are due to be held in Berlin. They come amid growing concerns over Europe's faltering economy and an economic slowdown in China. When Chinese Prime Minister Li Keqiang arrives in Germany for high-level consultations beginning Friday, it will be amidst a mixed background of flourishing trade between the two economic powerhouses but gloomy forecasts for their growth. Li will hold talks with German Chancellor Angela Merkel and sign a number of agreements. The two leaders will also preside over a joint meeting of their cabinets. Bilateral trade between the two countries has jumped nearly 12-fold in recent years, according to official data. But elation over the Sino-German trade boom has been dampened by a slowdown in the Chinese economy and warnings that Germany is teetering on the brink of recession. "The Chinese economy is now not strong enough to offset stagnation in the eurozone," said Carsten Brzeski, an economist with ING Bank. Domestic demand in China has slipped. Imports dropped 3 percent in August over July and as a result Germany no longer looks like it will be able to prop up the eurozone economy like it did when it led the Continent out of the 2009 recession. On Thursday, Germany's Federal Statistics Office marked the sharpest monthly drop in exports in five years. There have also been declines in industrial production, factory orders and business confidence. | 
