Germany Economy Assignment
Germany is one of the largest economies in the world, ranking fourth in terms of GDP after the United States, China and Japan. Germany is the fifth most populous country in Europe with a population of 82 million. Germany’s booming economy attracts millions of immigrants from around the world as it is the third largest country in terms of its immigrant population. Germany defies all of Poland, the Czech Republic, Austria, Switzerland, France and the Netherlands. The area is about 357021 and has maintained a high standard of living. Germany is well known for its solid social security system, which stems from the flourishing of the German economy.
Germany is the largest economy in the European Union. It benefits from a large group of talented manpower that has enabled Germany to be one of the most industrialized countries for automobiles, machinery, chemicals, equipment and household appliances worldwide. Germany faces significant demographic challenges to achieve long-term growth. The German Chancellor Gerhard Schroeder’s government (1998-2005) launched reforms to the economy, which are necessary to address chronic high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and reduced unemployment. The stimulus and stabilization efforts that began in 2008 and 2009 and the tax cuts introduced in the second term of Angela Merkel will increase the German budget deficit.
In 2008, agriculture, forestry, and mining accounted for only 0.9% of GDP and employed only 2.4% of the population, down from 4% in 1991. Much of the reduction in employment occurred in the eastern states, where the number of agricultural workers was Up to 75% after reunification. However, agriculture is very fruitful, Germany can cover 90% of the food needs with domestic production. In fact, Germany is the third largest producer of agricultural products in the EU after France and Italy. Germany produces potatoes, wheat, barley, sugar, fruits, and cabbage. Despite the high level of industrialization, almost one-third of its land is covered by forests.
The industry accounts for 29% of GDP in 2008, and 29.7% of the workforce in the industry. Germany excels in the production of automobiles, mechanical tools, and chemicals. Nearly 5.5 million cars were manufactured in 2003, Germany was the world’s third-largest automobile producer after the United States and Japan and threatens the popularity of the Republic of China with Germany losing its position in the world rankings starting in 2005. In 2004 Germany enjoyed the largest share of tools Machinery in the global market (19.3% of the world market). Of vital importance is the small role of the size of medium manufacturing companies, which specialize in specialized products and are often owned by management.
Secrets of the strength of the German economy
After the end of the Second World War, no one expected that Germany would be able to recover from the devastation it had undergone, and that it did not take much time when Germany was characterized by economic stagnation, high unemployment, high budget deficits, 2004 The Economist magazine was not called the “sick man of Europe.” Today, the German economy ranks first among the world’s largest economies in terms of GDP, and the German economy is considered the most important market in the EU, the unemployment rate fell to 5.3 per cent, the second lowest among the EU countries. Germany was able to do what many considered impossible and to reconstruct its economy miraculously until the German economy became the strongest economy in the entire European continent.
The secret of Germany’s progress and economic success has many reasons, not one reason. There is no second country on the whole planet that has more than one of the world’s leading companies. Economists and consultants in other industrialized countries are now looking for the secrets of this success. The German model) one day is larger than it is today. In the past 25 years, Germany has ranked 10 times the world’s top export. Export, if not domestic demand, is the cause of prosperity and low unemployment.
The main reason for Germany’s continued export success lies in the strength of medium-sized companies. Nearly half of the world’s medium-sized exporters are German, and a quarter of Germany’s exports are the share of these companies. The main industries in which the German economy is based are the iron and steel industry, coal, cement, mineral fuels, chemicals, plastics, machinery, automobiles, trains, shipbuilding, electronics, IT, medicines and medical devices. Of the total labour force in Germany.
In an earlier article published in the German magazine (Süddeutsche Zeitung), a comparison was made between the economies of each German state and the economies of other countries. The results showed that the economy of the city of Berlin was equivalent to the economy of the State of Qatar. The state of Bavaria has equalled the economy of Argentina, and the economy of the small country of Dynes-like Rhineland Phals has been fair to the economy of the state of Algeria (before the wave of falling oil prices), now the economy of this country means the best of Algeria’s economy and all its income before the crisis. The strength and rigidity of the German economy.
One of the key factors for the success of the German economy is the continuous preparation and training of specialized competencies. Each year, about 100,000 engineers and naturalists from the German labour market come from Germany’s more than 200 universities and technical institutes.
Germany was able to create a name for itself as an engine of the European economy while some Eurozone countries were stagnating. The word “Made in Germany”, known throughout the world, was actually introduced by the British through the “Mark of Goods Law” World 1887, which was intended to protect the English business of German products (lower grade). Although initially designed as a form of punishment, the seal has become a well-known brand all over the world and has a distinctive feature of high quality, durability and cutting-edge technology.
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