German Economy
During the 1900' and early 21st century Germany economic system was unstable and suffering. Tax cuts and high employment wages were two factors that contributed to Germany's 2008/2009 deficit. High unemployment rates were a result of high wages later forcing the reduction of wages. Due to the low wages the government implemented stimulus and tax cuts which added to the deficit. The government as a result of the deficit had to increase taxes. As a result of tax revenue and spending the financial deficit was lowered by 0.8%contributing to a 2011/2012 surplus of 0.1%. Germany has begun to replace nuclear power with renewable energy creating continued revenue. This compounded with being an advanced in technology, having a skilled labor force and revenue from exporting goods such as machinery, vehicles, electronics, food, beverages, etc is what allows Germany to be the 5th largest economy in the world. Germany's 2013 GDP in purchasing power, exchange rate, and growth rate are all sufficient and is thus a few keys to Germany current economical stability.
I guess you researched the economy. I wrote about what interest me about Germany in terms of What is Germany historically in a social way. But good stuff. Maybe I will do a research paper and cite you as the source.
ReplyDeleteI will look at what you wrote as I get a little unclear about the history at times. I have never been worldly inclined and must get better with learning the history and the present issues we are faced with that I am truly impacted by in some form or fashion.
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