👉Germany Economic Report : So How did Germany become such a strong Economy?
The economy of Germany is a highly developed social market economy. It is the largest national economy in Europe, the fourth-largest by nominal GDP in the world. In this video, we will analyze the secrets of the German economic strength.
And try to understand, why is the German economy so powerful, and what lessons can the rest of the world learn from it?.
#1. Euro bliss.
There is no doubt that Germany has benefited greatly from the euro. Few other reasons are.
Rising german exports are cheaper for overseas consumers.
Relatively low levels of private debt.
Real interests remain stable.
Germans are uncomfortable with the concept of borrowing money.
Germany is among the few economies maintaining a balance of payments surplus.
#2. Labor reforms.
Germany embarked upon a program of fundamental labor market reform in 2003, sparked by the excesses of post-unification wage increases.
The reforms laid the foundation for a stable and flexible labor market. While unemployment across Europe and the US soared during the global downturn, remarkably, the jobless number in Germany barely flickered.
Germany maintains a culture of business owners acknowledging and rewarding the efforts of the workforce, which develops harmony in the workplace and builds a degree of trust between the employer and employees.
#3. Job skills.
More important still to Germany's industrial strength is the country's education system.
Apprentices aged 15 to 16 spend more time in the workplace receiving on-the-job training than they do in school, and after three to four years are almost guaranteed a full-time job.
And in Germany, there is less stigma attached to vocational training and technical colleges than in many countries.
Welcome to The Atlantis Report.
Uncertainty over Brexit and the trade war between the US and China slowed down the export-oriented German economy.
Nevertheless, Germany is still Europe's biggest economy and one of the world's most powerful economies. Germany is one of the largest global exporters of goods and services.
So How did Germany become such a strong economy?
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