Germany's Economic Model Faces Crisis as Manufacturing Output Declines and Competitiveness Erodes
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Germany's reign as an economic powerhouse is under threat as its economic model faces a crisis. The country is grappling with declining manufacturing output, eroding competitiveness, and a range of domestic challenges. The cessation of cheap Russian natural gas has exacerbated an energy crisis, leading to increased production costs and a decline in the global competitiveness of German products. The loss of cheap gas due to the war in Ukraine has had a significant impact on German manufacturers, leading to a decline in industrial output since 2017 . The US is drifting away from Europe and is seeking to compete with its transatlantic allies for climate investment. China is becoming a bigger rival and is no longer an insatiable buyer of German goods. Political paralysis in Berlin is intensify...
#newstr #Germany #Manufacturing #Competitiveness #EnergyCosts #Infrastructure #Workforce #RedTape #EducationSystem #SolarPanelIndustry #China