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>In Germany industry was never destroyed for the sake of the service sector. Until they ran out of cheap Russian gas. Germany also has a high level of wealth
by Rinzler89 3y ago
>In Germany industry was never destroyed for the sake of the service sector.
Until they ran out of cheap Russian gas.
Germany also has a high level of wealth inequality. Buying a home there is a luxury for the rich now. Yeah, rent protections and what not, but good luck to the average German affording rent and utilities in 30 year on a pension.
- kranke155 3y agoThe fact that you think Germany is anywhere near as deindustrialised as the UK, because of the increasing cost of energy, is a bit funny to me. The UK was brutally deindustrialised. The UK manufacturing output is 8.69% of GDP. https://www.macrotrends.net/global-metrics/countries/GBR/united-kingdom/manufacturing-output https://www.macrotrends.net/global-metrics/countries/GBR/uni... German manufacturing output is 18% of GDP in 2022. That's over twice the UK. https://data.worldbank.org/indicator/NV.IND.MANF.ZS?locations=DE https://data.worldbank.org/indicator/NV.IND.MANF.ZS?location... Look at data, stop reading sensationalistic news articles. I doubt that Germany has lost over half its industrial capacity since 2022.
- dukeyukey 3y agoWorth seeing that the UK figure is comparable to the France, the US, Canada, and way higher than Australia. Germany is the outlier here.
- kranke155 3y agoAbsolutely Germany is the outlier. That's reason I mentioned it. From visiting and talking to people, it's one of the healthiest economies I've ever seen.