How the German Economy Went from Being the Sick Man of Europe to Being a European Leader

Abstract

Germanys economy has been stagnant since the 21st century, and was once called the sick man of Europe. However, in just a few years, Germanys economy has soared to become the leader of the European economy. This economic miracle is inseparable from Germanys economic reforms. Germany solved the problems of its own indebtedness and the solidification of the labor market by reducing welfare support. Secondly, Germany has also shown a solid performance to the world economic crisis, through its usual low consumer demand, good trade performance before the crisis, and short-term labor to reduce the financial burden for the enterprise, to ensure the employment rate during the economic crisis, so that it can quickly come out from the crisis. Not only that, Germany has also fully utilized its own advantages, Germany through the investment in education to ensure that the manufacturing industry continues to innovate, to maintain the competitiveness of the manufacturing industry in the international market, to ensure its export surplus and the advantages of the manufacturing industry.