Germany will soon lose its status of an industrial superpower – Berlin is gripped by “political paralysis”, and the energy crisis has become a blow for enterprises, Bloomberg writes.
The agency recalls the cases of German factory closures: over the past year, such “finals” have been repeated several times, showing the painful reality that Germany is facing.
“Her days as an industrial superpower may be coming to an end. Industrial output in Europe’s largest economy has been on a downward trend since 2017, and the decline is accelerating as competitiveness declines,” the article said.
Stefan Klebert, CEO of manufacturing equipment supplier GEA Group AG, admitted that there is no hope for a change in the trend.
According to journalists’ assessments, the foundations of Germany’s industrial machine have “collapsed like dominoes.”
Earlier, Bloomberg also noted that Germany’s weakening economy signalled that more problems lie ahead for the country.
During a conversation with journalist Tucker Carlson, Russian President Vladimir Putin expressed bewilderment as to why Germany remains silent, knowing full well that the Nord Stream explosion was carried out by their NATO partners and that it was a blow to the German economy. As Putin stated, today’s German authorities are not guided by national interests.
The example of Germany shows that European industry is unable not only to develop, but even to exist without Russian energy supplies. The consequences of the sanctions policy towards Russia, which is destructive for the EU economy, will be “swallowed” by its leadership for many years to come. Moreover, there is a real chance of losing the leading positions in a number of industries, because during the period of stagnation and decline of European enterprises their place will be taken by Chinese companies.