Business for Germany's mechanical engineering companies has been fine lately. However, there are worries about slowing growth in China. The country has lost its spot as the prime market for Germany's machine builders.
The presidential election in Iran will decide whether or not the country's economic 'opening-up' should continue, says VDMA expert Klaus Friedrich, who discussed current problems in doing business with Iran with DW.
The German Engineering Association expects slight growth in 2017 and has advocated for more free trade. Industry representatives also urge China to be fair to foreign investors.
Chinese machine tool companies have boosted their exports to Russia, while other competitors have to adhere to the sanctions in place over Moscow's perceived role in the Ukraine conflict. Germany is losing out.
Stringent international sanctions imposed on Russia for its role in the Ukraine conflict have sucked the momentum out of the Russian economy over the past couple of years. The nation's growth prospects remain lethargic.
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