German Perspective – 24.01.23
This week: The third week of the new year has already come to an end and we still cannot report that the year 2023 has really started. From our point of view, the first three weeks dragged on without any noteworthy activities or insights. Of course, this is largely due to the fact that we have a very early Chinese New Year this year, which means that the holiday break in Europe has merged almost seamlessly into the holiday lull in Asia. In addition, of course, there is the end of the restrictive pandemic policy in China, which came so quickly that the manufacturing industry and the public were not really prepared for it. What consequences this will have for the economy as well as for private consumption in China will only really be seen in the weeks after the Chinese New Year.
