Germany: the 'sick man' of Europe again?
However in 2023 the wheel has turned full circle and German economy is again struggling. For the final quarter of 2022 and the first of 2023 economic output has declined putting the national economy in "technical recession." In the most recent quarter, Germany's gross domestic product (GDP) has stagnated at the level of the previous quarter, and all the important economic indicators show a decline.
"Germany's economic situation is darkening," was the conclusion of the president of the Leibniz Institute for Economic Research at the University of Munich, Clemens Fuest. The Institute surveys 9,000 executives each month about the current state of their businesses and their expectations for the next six months. The resulting Business Climate Index (July 2023) has fallen for the third month in a row. The Institute researchers expect Germany's GDP to decline again during the current quarter. ...
Commerzbank chief economist Jörg Krämer reinforces the opinion of Clemens Fuest and the Munich Institute for Economic Research: "Unfortunately, there is no improvement in sight," Krämer told the Reuters news agency. "The worldwide interest rate increases are taking their toll, especially since German businesses are already unsettled due to the eroding quality of their location."
The country's industrial sector, the showpiece of its economy, is causing the most concern. It accounts for a relatively large portion of Germany's gross value added (GVA), about 24%, and has been suffering global trends along with other developed nations. A worldwide economic slump in the wake of the COVID pandemic fiasco added to globalist ideologies' influence on policy making it easier for manufacturers to move operations from highly regulated areas such as the EU to nations ith more lax regulatoty and business taxation jurisdictions. Germany's once mighty engineering and automobile sectors, which were heavily reliant on exports, are feeling the effects of foreign customers holding back while cheaper imports from China and other 'emerging' economies flood the domestic market.
And on top of all this a decade of unregulated mass immigration of semi - literate, poorly educated, culturally incompatible, unemployable migrants from third world nations has bloated the welfare system again.
Compared with other industrialized nations, Germany is performing exceptionally poorly — and according to an estimate by the International Monetary Fund (IMF) will be the only large country to have a shrinking economic output.
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Putin, Macron To Hold Urgent Talks To Halt Military Escalation In Ukraine
Even though the leaders of Ukraine itself are talking down the threat of war with Russia over the breakaway region of Donbas, America and Britain are still beating the war drums and demonising Russian leader Vladimir Putin. Russia insists they have no plans to invade Ukraine and one western leader at least, France's Emmanuel Macron, seems to be listening to messages coming out of the East European trouble spot...
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