Germany racked up one economic success after another for most of this century. But the loss of Russian natural gas due to the war in Ukraine has dealt a severe blow to its industry through higher energy costs.

For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports.

Jobs were plentiful, the government’s financial coffers grew as other European countries drowned in debt, and books were written about what other countries could learn from Germany.

No longer. Now, Germany is the world’s worst-performing major developed economy, with both the International Monetary Fund and European Union expecting it to shrink this year.

  • float@feddit.deEnglish
    225·
    1 year ago

    We must live in two different Germanies than. I travel a lot and other countries are moving forward a lot faster than we are. Thanks to the CDU we weren’t doing much until recently. There are many topics that need attention, especially infrastructure, buerocracy, public health and retirement insurances, corruption aka “lobbyism”, and the list goes on. That’s all things you could fix one by one, but looking at how/what people vote, there won’t be any progress in the next decade imho.