germany vs uk economy

France orders curfew in nine cities to battle virus, How to spot US election disinformation. The drilling machinery was from Germany. So unless the anti-Brexit number-crunchers are saying that Belgium is a basket case (clearly absurd), or that Germany’s trend growth rate is a full percent lower than ours (equally absurd), they test our patience with persistent overstatements of lost output. Are the predictions about Britain v Germany any more credible? H�tWˎ�F��+�P�Ds�&r��8��`+����,9��9�)Y��|a>%�� )��̥j������w�W�]v��!��WE�琔a�F 쾬^��9�����իw�*�]M��*����j�qx��voW3wY�Ey���7O��;= #��V�a�C�$a�����+��rs�C��d3�C+{��"'��r���}y�8L(6sRn���L�O�ٟEO��.�n�u���N��B��N({��w��X"T4�V6e������8��j>���xL�j���Gp0�[����U By Bob Bischof, Chief Economic Adviser To German Industry Uk. How to invest for high income and avoid dividend traps, How to find shares with dividends that can grow: Troy Income and Growth manager, Blue Whale manager: 'We want companies that grow whatever happens', How biotechnology investors can profit from an ageing population and the future of medicine. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. You can see German technology all over the world, very often from small companies. "This shows you the difference of attitude whereby the English see an opportunity in change whereas the Germans hate change - we don't want change. Health minister’s incorrect herd immunity claims, Johnson’s questionable universal credit claim, We shouldn’t rely on official cases per capita to compare local outbreaks. I do not wish to pick on the National Institute for Social and Economic Research - a superb institution - but it published a chart last week seeming to show that UK growth had slumped 3pc below its trend line on account of Brexit. And despite reunification, wealth is distributed more evenly. We want to plan things.". The think tank CEBR reckons Britain will not only overtake its old rival France soon but also that the UK stands a good chance of narrowing the gap with Germany by 2020 and leaping ahead of Europe’s economic powerhouse by 2030. Foreign direct investment has crashed. Video, Dramatic footage shows flood destruction in India, 'Wake up, you've won a Nobel Prize' Video, Covid: Trump's son Barron had coronavirus, says first lady, Central Park: Amy Cooper 'made second racist call' against birdwatcher. It has always relied on an influx of Gastarbeiter, or guest workers from abroad, to bolster the labour market. https://www.bbc.com/news/uk-politics-eu-referendum-36267698, report from the Economist Intelligence Unit. They were able to live a prosperous life without having all those manufacturing companies. It has both financial services and a strong manufacturing sector. Even a chronically low birth rate in Germany is unlikely to have much effect. The 2013 figures show Germany at $3.65trillion, France at $2.65trillion and the UK with $ 2.45trillion of output. )��J�x�ެ�'��G:(�zְ'E�G W�E�V\��^�Ey�:oj���^�u��J�< ���? They might be giants: Do US smaller companies still offer rich pickings? How to invest through a crisis like coronavirus and protect your money? That conclusion was supported by Goldman Sachs, which predicted that the UK would be in ninth place in the world by 2050, ahead of both Germany and France. His company is a typical example of the "mittelstand", that swathe of medium-sized, often family-owned firms which produce things, often of high quality, with much investment in research and design. German education supports both academic and practical skills. The British, he says, are used to variable rates of interest - they go up and down over the lifetime of the mortgage. It is doing so now after having successfully integrated 22m newcomers after the fall of the Berlin Wall in 1989. This was achieved by taking its pre-referendum forecast (over-optimistic in the first place), and then failing to adjust for the China slowdown, the world trade slump, and the powerful effects of US monetary over-tightening that have occured since. Qj�5G>� �3�:^����'��J���*,���*P]�����i({�B�16f�=l�r��ﲠ��+`�77�q��aTm��x�� "The British economy was seen as the 'Sick Man of Europe'. 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They matter. Contrast that with the UK where he says that 90% of households own their own home. British households are more indebted than their German counterparts. In these times of austerity, that may be a virtue - though borrowing to expand is a virtue when times are less constrained. He has worked and lived in London and he's married to a British woman. They must therefore be confronted and debunked. "The most important thing in their life is to own their own house. He notes, too, a difference in attitude between him and his wife when it comes to mortgages. Some links in this article may be affiliate links. All that needs to be tackled at a time when the Government is trying to get the deficit down, whilst Germany will have a balanced budget in 2014. Germany is an innovative industrial powerhouse, whereas the UK relies heavily on the financial services industry in London. The German economy currently meshes nicely with China's needs, such as machinery to industrialise. "If the framework is correct, you will come out winning - probably, in three years time, when Germany might just go back into recession. "In Germany only 50-60% of the population own their own house. Drilling a tunnel in Switzerland? According to the latest figures, the British economy actually shrank in the last three months of 2010, although it is expected to grow by 2% in 2011. It is a concern that the UK did not get more lift from the macro-economic stimulus of a weak sterling. The words are written on the back of every item in English, but there is much research and development behind it. But it has to be realistic about its position in the world and the huge effort it needs to turn around its growing balance of payments deficit, to increase business investment, to make sure its youngsters have the right education and skills, to improve its infrastructure, to raise productivity and not to rely on rising house prices to fuel another consumption-led boom. 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Britain could easily do better and should do so. Germany vs. United Kingdom; Economy; Compare vs for Submit. "Many years ago, when some countries saw their future in service industries like I believe the British did, I wondered about it. Consumption has been sustained by an unhealthy fall in the savings rate. 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