Strong economic growth in China and other Asian countries unsettled many Germans. Only one in two believes that Germany has increased the competition, according to a representative survey on behalf of the Federal Association of German Banks.
Asked about the reasons for the economic success many Asian countries, most prominently, low wages of the employees. 53% of respondents see this as the main reason (see chart). 25% keep hard work and mentality of the people who live and work, 12% low social standards as a cause for success. As the largest economic competition provides the majority of Germans now China, by far followed by USA and Japan.
Source: Federal Association of German Banks has
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