Germany’s dependence on the Chinese market caused stagnation in the German economy. According to the American TV channel CNBC.
As the channel puts it, the German economy is turning from being the locomotive of Europe to a “sick person”. According to the estimates of the International Monetary Fund (IMF), only Germany expects a decrease in GDP in the G7 (G7).
CNBC material also talks about the problems facing Germany. These include bureaucracy and an aging population. It is also stated that the German authorities did not propose an effective reform to address these problems. Moreover, the Ministry of Economy does not believe in recovery even in the medium term.
The German economy is expected to grow more slowly in the future than the US, UK, France and Spain.
Before that, The Economist magazine WroteThe German economy is in a deep recession. The future of the German economy is bleak because of bureaucracy, outdated business models and outdated infrastructure, according to the authors of the publication.
JB Press’s Japanese online edition is also WroteIt is stated that Germany is facing an economic crisis after cutting off Russian gas. It was noted that Germany had difficulties in exiting the recession. The rejection of Russian fuel had a significant impact on the German chemical industry, one of the engines of the country’s economy. The country started to buy gas from Qatar and Norway at ever-increasing prices.
Formerly an economist warned Kiev on the risks associated with the growth of foreign debt.