Germany's Economic Struggles: From Miracle to Malaise
-
Germany's economy was once seen as a miracle, but is now struggling with slower growth, high energy costs, and the transition to digitalization.
-
The economy faces structural challenges like an aging population, as well as cyclical shocks like the war in Ukraine and a global slowdown.
-
Germany became over-reliant on cheap Russian gas, which has proven problematic after Russia's invasion of Ukraine.
-
Major industries like automaking and chemicals are under pressure from new competitors and unfavorable policies.
-
Some believe Germany can rebound as it has in the past, but the country may need major reforms to boost competitiveness.