Why Germany is De-industrializing | The German Economy скачать в хорошем качестве

Why Germany is De-industrializing | The German Economy

Nearly twenty years ago, Germany overcame its reputation as the sick man of Europe armed with ambitious labour market reforms that unshackled its industrial potential and ushered in a sustained period of prosperity, driven particularly by strong demand for its machinery and cars from China. While Germany frustrated many partners by exporting vastly more than it was buying, its economy flourished. The boom times, however, came with a cost. The economic strength led leaders into a false sense of security and their failure to pursue further reforms is now coming back to bite. The perfect storm brewing over the once European powerhouse signals that its current recession isn’t just technical, as policymakers had hoped, but rather an indication of a fundamental reversal in economic fortunes that threatens to send tremors across the continent.