Germany’s Economic Secret
“Ever since Europe’s industrial juggernaut grew at a nine percent pace earlier this year—the best in two decades—Americans have looked across the ocean with envy.”
“As we cut costs, outsource jobs, drown at double-digit unemployment and run up huge trade deficits, Germany seems to be doing the opposite: reaping the benefits of cheaper labor, keeping German workers in German jobs, and running surreal trade surplus numbers (surreal, considering the health of the rest of Europe). What’s your secret, Berlin? That’s the question I posed to Dr. Tim H. Stuchtey, director of the Business & Economics Program at American Institute For Contemporary German Studies. There’s no good place to begin a story about what makes a country special, but there’s a decent plan to begin the story about what makes Germany successful, today…”
