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While this will boost exports to the U.S., which are expected to grow by 15 percent to almost 100 billion euros ($130.8 billion) this year, German exporters will also face tougher competition from their American counterparts as a result, he said. Meanwhile, exports to China are expected to grow by 5 percent to 70 billion euros in 2013 as the country ratchets up domestic demand, particularly for high-quality products such as German cars and machinery. Forecasts for Europe, however, are gloomy. Boerner said his group expects economic conditions in southern Europe to worsen further and that he has little hope for structural reforms in Italy and France in the coming years.
[Associated
Press;
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