Decoupling: China Overtakes Germany as Russia's Main Machine Imports Supplier
The Chinese are reliable, the Germans are not, it's that simple
For the first time ever, China's annual machinery exports to Russia exceeded those of Germany, fresh 2016 figures from Germany's Mechanical Engineering Industry Association (VDMA) revealed Tuesday.
It reported that China delivered machinery worth 4.9 billion euros ($5.2 billion) to Russia last year, compared with orders from Germany totaling 4.4 billion euros.
The trend reversal had been expected following EU economic sanctions imposed against Russia over its perceived role in the Ukraine conflict and the annexation of Crimea.
"Chinese suppliers are clearly at an advantage at the moment," VDMA's Monika Hollacher said in a statement. "They don't have to grapple with any sanctions and, when needed, provide their own financing offers to boot."
With Germany in thrall of Washington and the spectre of more sanctions always looming buying German isn't terribly attractive.
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