Hill, Steven.”Economic Powerhouse Germany.” 22 February 2011. 4 October 2011.IP Global. <http://www.ip-global.org/2011/02/22/economic-powerhouse-germany/>
Economy Powerhouse Germany
In an article, courtesy of IP Global and edited by Steven Hill on 22rd February 2011, Germany was christened an Economic Powerhouse. Held in the league of economic giants such as America’s Wall Street entrepreneurship, it was reported to surpass the America’s Wall Street capitalism with its exceptional stable and competent social capitalism.
Several factors were attributed as having played a major role to bring about its incomparable social capitalism. As noted in the publication, these factors were astute strategies practiced by the Germany government, an economic equality and outstanding measures in solving predicaments.
Unlike its counterparts in the continent that are grappling with debt predicaments and an economic meltdown engulfing the world, the adjacent countries and distant ally countries have been savoring the moment to direct disparagement towards Germany (Hill). As critics opine, Berlin has been too hesitant to give alms and come to the rescue of the Euro, is irresolute and stingy when it comes to expenditures, and when it comes to salvaging the euro zone, its no skin off its nose.
However, no matter the chitchat from the criticisms of Germany, these countries can overlook the fact that Germany is an economic veteran, with its outstanding record of having the lowest levels of unemployment: 6.6% against a whooping 9.4% in BundesRegierung, U.S. (courtesy of OECD). To cap it all, this is amidst a global recession (Harrison). To add a feather to the cap of Germany, it counts amongst the league of the major exporters of considerable commercial superfluous. Its economy slots into the fourth position globally.
Germany is a veteran in international companies with prestigious companies such as Daimler, BMW and Volkswagen under its belt. This companies feature into the Fortune 500 classification. However, a friend and foes alike can’t disclaim that Germany is an economic powerhouse, as it has been dubbed. There are even claims that Germany is aiming to remold Europe in its figure.\
Conclusion
With a global recession that rocked the world without even sparing seasoned economic powers such as America and the European countries, there are ample lessons to learn from Germany on how it cushioned itself against the effects. The so-called economic powers which succumbed to the global recession should take a glance at the astute government policies, the prowess of Germany in solving predicaments and the economic equality (Feldstein). It may seem ironical there was critics directed to Germany, castigating it under baseless reasons for the brilliant economy, when it was hogging the limelight. No doubt Germany was the cream of the new crop. These critics, doubtless the economic powers, should go back to the drawing board and borrow the tactic implemented by Germany and as the saying soberly pipes, learn from their mistakes rather from their triumphs.
Work cited
Harrison, Edward.” What is the secret to Germany’s economic success, part 2?” 16th August 2011.Credit Writedowns.4th October 2011
< http://www.creditwritedowns.com/2011/08/german-economic-slowdown.html>
Feldstein, Martin.”Germany’s Economic Ills”. (n.d). 4th October 2011.
< http://www.nber.org/feldstein/siebert.html>