The EU has declined economically since the introduction of the euro. The US economy is 30% larger than the European one. Johan Geeroms, Director Risk Underwriting Benelux Allianz Trade: "At Allianz, we fear that German automotive companies will go to China at some point. People produce cheaper there, it is the biggest market and China has lithium and other critical materials. This is going to have huge implications. Just looking at that the Netherlands depends on exports to Germany for 60%. The further you do business from home, the more dangerous. Therefore, differentiating your portfolio and knowing your customers is of utmost importance. The risk of bankruptcy is always there and it only takes one big customer to go bankrupt to put a company in serious danger."
