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Wednesday, September 16, 2015

China is trying to undercut Germany by offering submarines to Egypt for a lower price

Type 039A (Yuan) class SSKChina is trying to sell two submarines to Egypt that are cheaper than vessels on offer from Germany, industry sources told Reuters, as Beijing looks to expand weapons exports beyond its traditional customer base in Asia.

Beijing has sought to undercut Western submarine makers on price and by offering attractive export-credit terms for sales in Asia, the sources said. It has won deals with Pakistan and Bangladesh so far.

China displaced Germany as the world's third-largest arms exporter, the Stockholm International Peace Research Institute (SIPRI) said in March, though nearly 70 percent of those weapons went to Pakistan, Bangladesh and Myanmar.

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