Some pay Germany among the rough winners of the Corona crisis
Not quite as bad as feared. Current assessments of the state of the German economy could thus be condensed. The economy will continue to grow despite the Corona decreases, the Ministry of Economics ames. Representatives of many large companies even indicate that they will emerge stronger from the Corona crisis.
According to the Federal Ministry for Economic Affairs and Energy (BMWI), Germany’s economic output has reached almost 96 percent of its pre-crisis level. The recovery had continued through October, though slowed since August by the pandemic. Due to the new Corona restrictions, the economy in November, especially by the restriction of the "Consumption possibilities", A "Steamship".
"As long as the additional costs can be kept within reasonable limits", according to the BMWI, "However, there is little to suggest that the overall catch-up process will break off in the fourth quarter." The global economy also continues to recover. In August, global production had reached 97 percent of the previous year’s level, and global trade had been just under 96 percent of the previous year’s level.
The retail sector has already exceeded its pre-crisis level since May. After a strong recovery, sales showed a sideways trend at a high level, but in September a decrease of 2.2 percent. Despite a decline in August, trade in motor vehicles has reached its pre-crisis level "again traceable" surpassed.
A majority of German top managers, according to a survey conducted by the "Spiegel" The survey participants, who are of the opinion that Germany will emerge stronger from the Corona crisis, reported that. 38 percent of respondents say they have strengthened their market position, 40 percent say they have maintained their position. Weakened see themselves 6 percent, no statement made 16 percent. 143 top managers of large companies and medium-sized companies with high sales were interviewed.
From automotive industry circles, only 28 percent of representatives say their position has improved. Many companies see themselves negatively affected by the pandemic. Almost all of the coarse companies claim to have undergone major changes during the crisis. Digitization had accelerated almost all of them. More than half were planning mergers or acquisitions. Around one in three companies had cut jobs.
Germany’s actual and presumed successes seem to resonate abroad. According to Gallup polling data, the UK is overwhelmingly positive about what is happening in Germany and even in the EU. At the time of Brexit, British approval of EU leadership is at an all-time high of 49 percent. For years, the British have given more approval to German leadership than to their own. Most recently, Angela Merkel’s lead over Boris Johnson has reached a new high.
Many observers currently believe that the international balance of power will shift in the wake of the pandemic and the resulting economic changes, as well as due to the expected realignment after the presidential elections in the United States. For discussions provides who will pay to the winners.
As a potential candidate for the leadership position in the race through the pandemic, Germany has been repeatedly mentioned recently. The German response to the pandemic has highlighted the country’s pre-existing strengths, according to an opinion piece in the "New York Times". Efficient government, a reputation for industrial excellence, a growing ability to create advanced technology firms, and low debt levels had led to systematic competitive advantages.