zdf
Fewer jobs due to electric cars?
Economy
The German economy is weakening. A major problem is the shortage of skilled workers - the future "labor shortage" will become "the biggest obstacle to growth", according to Neuhann (ZDF).
2024-11-23 05:40:10
Economy
Automotive
Germany's Economic Struggles: A Call for Transformation
Image courtesy of : AFP (JOHN MACDOUGALL)
Germany's economy, once a powerhouse of Europe, is facing significant challenges. The automotive sector, exemplified by Volkswagen's crisis, reflects broader industrial woes.
Dependent on cheap Russian energy and China exports, the existing economic model is faltering amid changing global dynamics. High energy costs and a lack of innovation exacerbate these issues, leading to declining industrial output.
The country faces a potential deindustrialization, with calls for urgent reforms to modernize infrastructure and attract skilled labor. Political instability further complicates recovery efforts, as the coalition government struggles to implement necessary changes.
Economic forecasts remain bleak, with growth expected to stagnate, highlighting the urgent need for a comprehensive overhaul to restore Germany's industrial strength.
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EL PAÍS
Germany is ‘kaput’: Why the economic model no longer works in the proud country of automobiles
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The Volkswagen crisis is just the tip of the iceberg of a larger problem. Europe’s old locomotive has stalled and must overhaul its industrial system, based on cheap Russian energy and exports to China
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