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Germany is losing it's MOJO. Finding it again won't be easy
[WSJ] Europe's biggest economy is sliding into stagnation, and a weakening political system is struggling to find an answer"" . . . Germany will be the world’s only major economy to contract in 2023, with even sanctioned Russia experiencing growth, according to the International Monetary Fund. . . . " " . . . Years of skimping on public investment have led to fraying infrastructure, an increasingly mediocre education system and poor high-speed internet and mobile-phone connectivity compared with other advanced economies. Germany's once efficient trains have become a byword for lateness. The public administration's continued reliance on fax machines became a national joke. Even the national soccer teams are being routinely beaten. . . ." " . . . Germany still has many strengths. Its deep reservoir of technical and engineering know-how and its specialty in capital goods still put it in a position to profit from future growth in many emerging economies. Its labor-market reforms have greatly improved the share of the population that has a job. The national debt is lower than that of most of its peers and financial markets view its bonds as among the world's safest assets. . . ." " . . . One recent law required all German manufacturers to vouch for the environment, legal and ethical credentials of every component's supplier, requiring even smaller companies to perform due diligence on many foreign firms, often based overseas, such as in China. Näder said his company must now scrutinize thousands of business partners, from software developers to makers of tiny metal screws, to comply with regulation. Ottobock decided to open its latest factory in Bulgaria instead of Germany. . . ." Posted by: Besoeker 2023-08-29 |
| http://www.rantburg.com/poparticle.php?ID=677182 |