Chinese exports to Germany surge

teatree (63)in #economy • 2 years ago

...while German exports to China stagnate. Here is the graph:

We know why German exports to China are stagnating - China's zero-covid policy means that continual lockdowns mean not much consumption is happening.

But why are Chinese exports to Germany surging?

It's not Chinese products. It's American Liquified Natural Gas. China had long-term contracts to buy American and Canadian LNG. This was delivered to China as per the contracts. But instead of burning it for heat and electricity, the Chinese have chosen to burn coal instead and re-export the LNG to Germany at a premium.

#germany

2 years ago in #economy by teatree (63)

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