The Economy of Germany: Power Of The Mittelstand

[@AltSimplified]

Thanks for watching! ❤️ You can subscribe and see all our videos here 👍 kzbin.info/door/LiRGHCMGB14Pw0yEqLM2fQ

[@krollpeter]

This one is very insightful and knowledgeable, indeed. Thank you!

[@리주민]

If monetary union without fiscal union is bad, does that mean that federations where states use the same currency as the federal govt is bad? States don't have their own central bank (eg Michigan, Alberta).

[@AltSimplified]

@@리주민 ah the age old US fiscal federalism debate! The US operates a quasi system, with much larger fiscal transfers between states, based on federal tax rates. Many economists note that the US system is a lot more integrated (though the EU has been forced that way post '08). If you're interested, the IMF produced a table at the bottom of the below link highlighting some of the EU's fiscal gaps it's working to close: "Toward A More Perfect Union" blogs.imf.org/2018/02/21/the-euro-area-needs-a-fiscal-union/ Thanks for the comment :)

[@MrCarlyMS]

Brexit will increase competition in all middle and large enterprises. The German auto industry has began to divest itself of its ICE (internal combustion engine) manufacturing. They are eliminating thousands of jobs within the country. The Brits will instead increase their manufacturing in the short term. Fisheries will also be affected, as well as heavy port activities. G.B. is now a competitor. Dare I say a rival.

[@리주민]

@@MrCarlyMS If disunity brings better economic advantages, why not SCOTXIT, OXFORDSHIREXIT, etc? Why not have Tipton county, Illinois be the country of Tipton? Not being silly, actually curious. For the most part, we no longer have to worry about constant raids or invasions from barbarians or neighbouring countries/tribes. Singapore seems to manage just fine, and they are the size of a British county and slightly bigger than a French commune.

[@thewildwegonian92]

If its one thing the Germans can do, its bounce back from troubles. Persistence and dedication.

[@laaaliiiluuu]

We have no choice. We tried to have fun and be less serious twice but both times the world got angry at us. :(

[@carlosandleon]

Global demographics and America pulling back their military spells troubles in the medium future.

[@SilviusLeopoldWeiss]

This is iver. The next time, it will NOT bounce back. Destruction of Industry and economy, islamisation, iver-aged society.... this will finally reach, what all wars and catastrophies in german history could not...

[@analgeneral5733]

@@SilviusLeopoldWeiss islamisation definitely not one of our problems

[@areyouastalker4591]

@@SilviusLeopoldWeiss Immigrants may bring islamisation, but it will NEVER be any kind of problem or even a threat. Immigrants from the middle east, especially younger people are eager to learn and find their place in the economy. Maybe you dont like their music or their clothes or the way they talk, but these people are the ones who will save our economy when the Boomers retire. Currently there are about 6% muslims in our population. 33% on the other hand are agnostic or atheist, so a completely secular state is way more likely (and also stable) than a german caliphate or whatever the BILD or AfD is trying to get us scared of... Not trying to devalue your opinion btw, i would actually like to hear what exactly makes you think there is a problem. Everything you hear nowadays is blind hatred and populism, would love to hear what actually scares so many people :)

[@augustus331]

Wow! I never realised before this video that in both German and Dutch the word for debt is 'schuld' which indeed means guilt. Never thought of it like that. Might go a long way explaining why we're so frugal

[@AltSimplified]

It's amazing how economics links to so many factors! 👍

[@muffigaming2787]

@@AltSimplified I would argue that in this case it is a link that is very strong between mentality and language that then seeps through into economics and economic behaviour. Also shows in relatively low spending among germans. This year germans on average saved 16% of their income I think I read recently.

[@fusssel7178]

I think the reason for that is, that our languages are very similiar. I know people from Ostfriesland who never had problems talking to dutch because of their dialect (ok, maybe obvious since the rest of frisia is part of the netherlands :D )

[@ahmedabdul319]

Have you ever checked the household debt ratio of the Netherlands? Its the 3rd largest among the OECD countries. :D this frugality of northern europe is just a big myth just as the lazy "siesta" mediterranean countries. In my opinnion this cultural explanations for a nations wealth was and will always be so cheap... And the real.reasons are much deeper and complex then that.

[@pawemaojo1229]

@@muffigaming2787 You can save up a lot when you have one of the highest wages in the world (if we only keep the big economies in the equation) and relatively low prices. Has nothing to do with Germans being frugal. I’m don’t think most Germans understand what frugality is.

[@sdprz7893]

Has pretty much every nation in Europe been given the title of Sick Man of Europe?

[@PurOwO]

It seems to be contagious

[@trdrudedude6099]

Its normaly the country that the majority of countrys want to see dead / collaps

[@ernstschmidt4725]

they do musical chairs at geneva to decide it each decade.

[@trdrudedude6099]

@@ernstschmidt4725 that makes way more sense then my Theorie, so i am going to steal that (sorry for bad english)(also i am not actualy going to steal that it was just a joke)

[@ernstschmidt4725]

@@trdrudedude6099 go on rudedude, spread the word in the unwashed masses

[@marialana3502]

I am from Austria. We always have been the small and poor neighbour. Since the unification this has changed a bit. My highest respect for Germany. I don't think, a lot of other countries (maybe not even one) would have been able to integrate a "new" population of about 40% with this result. Don't forget, the unification is just 30 years old and we had the financial crises. Clear, still a way to go, untill the country is full unified and yes, it has brought a loss of wealth to a lot of people. But it worked.

[@tobiaswilhelmi4819]

Hi Maria. 40% is a little bit of an overestimation. The GDR had a population of about 17 mio. people, whereas the German Federal Republic had over 60 mio. people. And i think Austria is not at the same level today because Germany had so much struggle but because it's an economic powerhouse of its own with a good education system, a strong start-up community and it benefits from the EU eastern expansion.

[@marialana3502]

@@tobiaswilhelmi4819 you are right. The population was as you mentioned. I am not saying that Austria has not a good econnomy by itself. But also Germany has. But as an Austrian who has worked during this period in Germany, I was seeing the change in the situation of both countries. Only the unemployment in Germany was enormous. In the meantime a lot if things have changed. Also for Austria. For example to become a member of EU, to have the Euro. Austria moving more in the center. But in the 1990 you could see the different development.

[@technine967]

@@marialana3502 Ich liebe Österreich, auch wenn ich für euch immer ein Saupreiß bleib :D Dafür bleibt ihr für mich immer Deutsche(nicht Nationalität). Schöne Grüße aus Berlin und frohes neues.

[@Astrofrank]

I (German) would call Austria a small neighbour, but not a poor one. Our countries are very similar, despite the different size and population.

[@marialana3502]

@@Astrofrank don't know, how old you are. I am 60. Believe me, we (Austria) have never been poor, but not as wealthy, as Germany. It has changed in the 1990s.

[@zerotroiszero97]

Imagine losing a war with a completely destroyed country and being still the strongest economy in the EU by far 😂😂😂 Pretty embarrassing for the “lads” and French

[@lelolson3373]

But they also got destroyed by the Germans

[@josephcro2138]

Germany cucked lads and froggies twice. Got destroyed in Ww1, couple of years later cucked them, got destroyed in ww2, couple of years, cucked them again

[@zerotroiszero97]

@@lelolson3373 Not as hard as Germany got destroyed and they also got their colonies back then

[@saidalas7763]

@@josephcro2138 are you a british weirdo? drink your tea because you will get rekt like the germans economically wise with boris jokeson behind the wheel

[@josephcro2138]

@@saidalas7763 lol I'm not British, why would you think that? Is my English that good?

[@kristian.or.levites2545]

Germany is highly innovative and has a strong focus on exports

[@jorgesalvador9069]

The satisfaction is all that matters.

[@azriqkkuwoung3875]

The economy has suffered the impact of the virus and affected major holding companies. However, market analyst see a new favorable shift coming in the market. Take advantage of the situation and buy shares of global brands at minimum prices.

[@transition6934]

the stock market is just a favourable independent entity undisturbed irrespective a the nation's economy.

[@qiaoankulova1226]

Anmol Singh's service is more like a partnership, all based on share percentage. He does the activity required to pick stocks and excutes trades that offers the complete investment to achieve your specified goal. at the same time one has control over their funds in auto trading and can opt out anytime. it's a subset of algo trading....

[@fouleewong6217]

we have been with Anmol investment for over three years now. his small team have made an effort to get to know us, and so the service we receive feels very person

[@Banana_Split_Cream_Buns]

This illustrates what I hate so much about the US political debate and by some extension the UK and Australian political debates: that there's only one way to do a market economy, and you're a Communist if you disagree. Both Germany and Japan and many other countries show that there are other possibilities that just don't seem to be presented in Anglosphere economic political debate.

[@Cons1337]

Yeah Ludwig Erhards Social Market Economy is MUCH more capitalist than what we have now in Germany. Or in the Anglosphere for that matter. Though its difficult to compare the two.

[@dasmuller7529]

Its like a mid way betwen communist and capitalist. This is what made is great in lifestandart as we always look into other countries and of we think something should also work good in our Country we adapt it

[@Cons1337]

@@dasmuller7529 The Social Market Economy has absolutly nothing to with communism or socialism. At all. Here is a link to Ludwig Erhards book about it: www.amazon.de/Wohlstand-f%C3%BCr-alle-Ludwig-Erhard/dp/3430210399/ref=sr_1_1?__mk_de_DE=%C3%85M%C3%85%C5%BD%C3%95%C3%91&dchild=1&keywords=ludwig+erhard&qid=1610063017&sr=8-1

[@nguyenhoang8547]

Not true. You’re a communist if you are democrat and liberal in a sense because of you disagreed with their evil racist policy, then, the libs shut you down. Now, that’s communism and fascism.

[@bruvlord1133]

@@nguyenhoang8547 your pretendjng every democrat is like that

[@mambofornasa]

I love how informative this video is. Key word for me is the " Mittelsand" I hope I haven't butchered the word. A country that has definitely learned from it's mistakes. Leaders who think decades and not quarters to come!! I think having an exports based economy is a great thing... You just earned a new subscriber

[@astrofan8775]

The Leaders only to some extend have. The ones who have learned more are the individual companys, as well as the attitude of "You don't have to be the best to succed.", which means a lot of companys and people don't take unnessesary risks, leading to less dept and problems. This is also one of the reasons behind us having many stable mid-size companys. Also, you got really close to the word, one letter off. Completely correct would be "Mittelstand".

[@swanpride]

Mittelstand. Mittel means "middle" and the "stand" is something along the line social standing. The Mittelstand is who stands in the middle, higher than a low wage worker but lower than a millionaire. We also distinguish between the Mittelstand (people who live off pretty well of what they do) and the upper Mittelstand (people who keep amassing wealth but aren't quite millionaires yet).

[@jansix4287]

@@swanpride Mittelstand refers to the size of the company, not the wages of the workers. But you know that. Mittelschicht is the socio-economic class of the average worker.

[@mambofornasa]

@@astrofan8775 Thanks for the correction. I like your perspective, something great to learn about

[@mambofornasa]

@@swanpride interesting!!

[@xitzx3rror944]

*This is why I like Germany the most. :D*

[@sidxiv1248]

I feel for them, but I'm also just like 3 generations removed from there. 1900-present day they've been not only victimized by way of the most inhumane CAH in all of the history we have available, but they've somehow been labeled, not victims, but the victimizers, and charged/convicted of the abuse that was done to them. Wth is this nonsense??? Not only that. They're also still unjustly blamed, punished, and extorted to this very day. You nose what tho? Despite anything you nose to do, they're still #1 in Europe. Today, tomorrow, forever. Oh boy lord nose I wouldn't want to be the evil mad lads whom have done them this way. They dang sure almost solo'd the entire world last time they were done not even a 10th as wrong. 1owww4 8gawwwwd8

[@xitzx3rror944]

@MrLeafBeef Can you stop being rude?

[@moonlight-hm4bh]

You can, just not too much

[@jasonfanclub4267]

@@mrleafbeef634 he's in hell

[@frankwilliamk3769]

@@mrleafbeef634 adolf hitler would hate modern germany's multiculturalism

[@Politik-mit-Kopf]

Very good video. Indeed. Germany is very dependent on its export and therefore oftentimes very very politically correct in international affairs. However, international trade is an universal endeavour and goal. More trade means less wars and conflicts and more prosperity and as Germany has among the highest gains from it currently, its good at promoting it.

[@AltSimplified]

A great point and a crucial one to the formation of the EU 👍

[@ABC-ABC1234]

@@AltSimplified The reason why Germany has such an impressive export surplus is 1. It's domestic market has too low demand for imports abroad. 2. The dependency on its export has definitely been highlighted with the single market and the EURO 3. Their education system is designed on producing highly skilled labour force, be it in engineering /chemical industry etc. etc. 4. The high value of their exports is what creates such a large surplus in their balance sheet.

[@TheAnonymousKnightOfJustice]

from indonesia the EU for europe might seem good but it has a downside everytime i see a spanish adds with spanish language or a french ads with a french language i skiped it since i don't like*some parts of the eu* like how germany wants indonesian nikel and banned indonesian palmed oil in the eu. it also means indonesian don't like the entire part of europe just becosed of that 1 nation named germany. of course they see those outside like russia and britian diferent maybe that is why brexit hapended. britian is very smart.

[@tdkom]

@@TheAnonymousKnightOfJusticewell brexit wasn't that smart, but ok

[@TheAnonymousKnightOfJustice]

@@tdkom but it's not as stupid to let the germans dominate without uk's say while uk has control from merica to asia

[@Michael-wn4jj]

Expensive labour caused to invest more into efficiency. The Mittelstand again is a winner in that by having a shorter management line. Same managers often started their career from ground in same company. They know how things go while in large companies manager are often administrators lost in spreadsheets with difficulties to response to their cusomer needs. I also think the union and bosses searching more for a good agreement than hard confrontation. Something that I'm not aware of in France or GB likewise.

[@dpt6849]

That's exactly why they now try to destroy mittelstand

[@ayoCC]

@@dpt6849 Apprenticeship system and Dual Apprenticeship are the key systems to having a middle class economy, other countries don't have that, except for austria and switzerland.

[@ShubhamMishrabro]

Every developed country has implemented same formula - focusing more on manufacturing to sustain agriculture labour force, industrialisation of agriculture, labour, land etc reforms,Opening up of economy along with stable politics. All countries have to apply this formula but still can't

[@qjtvaddict]

That explains China in the past decades

[@jansix4287]

Well, Britain has its own formula. It goes, break the unions, sell all factories to foreigners and let them figure it out, put the money in the stock or property market and then cut all your trade relations. At the end they may no longer be a developed country, but they used to be.

[@sdprz7893]

@@jansix4287 Your last sentence just lot you all credibility even though you were making a good point at first.

[@dominikmanthei4546]

@Art Man people are selfish

[@MA-go7ee]

The stable politics part is the hard bit. And liberalization. Too many vested interests benefit from closed economies (in addition to ideologues like leftists or nationalists who mistrust trade).

[@priyansubhagabati8157]

I have seen the one made by economics explained but your one is more insightful 👍

[@falkjanen5050]

Actually German economic policy has changed pretty drastically in the last few months with one of the most generous covid stimulus packages (plus paying for a big part of the EU one). And there will be elections next year, so maybe, depending on the outcome, spending will continue.

[@dratlan5047]

This isn’t a change in policy. The reason why Germany kept the „schwarze Null“, not spending more as a state than the income from taxes (and forced the same on EU partners), is that states can spend money within a economic crises. This is reported to create the highes economical growth. The piigs states e.g. did not reduce their depth while economical growth. This lead to a much bigger crises 2008 and is one of the reasons why they are still struggling

[@Kai-tn4yx]

@@dratlan5047 Exactly.

[@tidenhub71]

It's alright.?! What alternatives would there have been in your opinion?

[@falkjanen5050]

@@tidenhub71 Are you sure you're answering to the right person? Because I never used the word alright in my comment.

[@Kai-tn4yx]

No, German policy has always been centered on anti-cyclical Keynesian principles. Reign in spending and save money during economic growth, then spend a lot during depressions. That's the smartest policy. Spending a lot all the time restrains your fiscal leeway heavily, which hurts you badly during times of economic downturn (see France or Italy). Whereas spending a lot to combat recessions is smart & necessary. The German policy has been the smartest mix.

[@MoneyMacro]

The wage reduction story is an important one for Germany's recent resurgence. I'm not sure though if the labor reform (making it easier to fire people) and Mittelstand (small business) trust story is the biggest reason for it. Much like the Dutch, the Germans used collective wage bargaining in reverse. Rather than collectively moving it up every year, they started to collectively moderate wage growth. Since this is a pretty unique way of doing things, not many European nations were able to replicate this.

[@smu48]

Great video! I'm from Germany and I even could learn many things I haven't known before

[@AltSimplified]

You're most welcome 😊 one of my favourites to research 👍

[@Machohne1]

I'm to from Germany

[@capt.lovestarii2752]

You are very correct about the German Mittelstand or SMEs, as you would say. These small and medium-sized family-run businesses shine with their inventiveness, flexibility, responsiveness and efficiency. Quite in contrast to many sluggish German prestige companies like the car manufacturers, who for years wanted nothing to do with electric or hybrid drives and yet are now rushing almost headlong into this sector and outsourcing the most important thing in the process (battery technology). I don't know where Germany would be without its SMEs, but it wouldn't be a good place.

[@Henning_Rech]

Part of the development is the rise of the Chinese economy which buys production equipment and cars from German companies. Exports to China, now 10% of the total exports, are about on par with those to the USA.

[@skazka3789]

And the new EU China investment deal will help German companies more! 💪

[@Minifutzi_o.O]

@@skazka3789 I highly doubt that bcz the Chinese government can still decide where German companies could invest in chinese companies. I don't think that the government will ever allow, that a foreign company is the major shareholder of a chinese company.

[@skazka3789]

@@Minifutzi_o.O Things change you'd be surprised

[@arnodobler1096]

Marshall Plan helps not only Europe! The US too

[@AltSimplified]

Very true! Someone needed to buy all their goods 👍

[@paolopoempel3048]

a big part of the Marshall Plan help was in goods. Goods which the US government bought from their producers and send them to Germany. I've heared that Germany nearly drowned in cotton at that time

[@0farmerjohn0]

Exactly! The US and British were the Architects of the German recovery. Too bad they didn't do the same to their industries and economy.

[@peterlustig6888]

@@0farmerjohn0 Thats not true. They werent that high. Besides that, germany had to pay high reperations in ressources and particullary in the east, there was a dismantling of industrial machines. I would rather see it as a kickstart from which both europe and the US profited. The US needed trading partners to fully use their enormous industrial capacities.

[@Astrofrank]

@@peterlustig6888 Btw, the reparations affected the UK even in a negative way. Older industrial machines were take to GB as reparation, the Germans bought new, better ones with money from the Marshall Plan. Didn't make the British industry more competitive ...

[@bluefanofeverything4329]

Can you do Japan's economic miracle next?

[@SecretStepDaddy]

Japan has been stagnant last 30 years

[@Aggoenix]

Japan economy is weird. It was growing mad after 2nd world war, but from 80s to 2020 its kinda stagnating. Japanese people are very disciplined and overworking (too much) and politicians are not very corrupt compared to rest of the world. So whats the problem?

[@breadstick3793]

​@@Aggoenix Population issues, the entire working force of Japan is literally just working to fund old people's pensions. It also has an EXTREMELY low birth rate and a declining population which is why Japan is hardly growing anymore.

[@btsarmyiscringeaf7220]

@@breadstick3793 and countries like china took many opportunities Even many Japanese companies manufacture in China

[@achill_934]

@@SecretStepDaddy in a weird way, after 30 years the market cap finally evens out the 1980s crash. Nevertheless, by classic fundamental analysis Japanese companies are cheap and have outstanding balances. They often pay a good and increasing dividend out of their income, so by economic definition their economy is growing but not the marketcap

[@muffigaming2787]

As a 18 yo german with some interest in economics one of the biggest problems I see in the future of germany is the aging population and system of retirement. It's called the "Gernerationenvertrag" (generations contract) and means that those i nretirement now are paid for by those working now. Those working now will have their retirement paid by the people working then and so on. (Obviously with some other additional parts to it) But with a greater proportion of people in retirement this system cant hold up that much longer. Fewer people working and more people getting retirement means either the fewer people pay mroe or the more people get less. And to be honest if the government decides that the young have to pay up to keep the system running with the problem having been visible for decades, me and many others will leave making that "solution" no solution at all because it turns into a worsening spiral. And the problem with too low spending is one of mentality, I think. Germans are just more inclined to saving than others imo. That is something that can definetely be a headache for europen monetary policy.

[@atlet1]

"the one who is in debt, is not free" Germans value their freedom. They will find a solution to their generation problem. A major problem with many old people is that their more abundant health problems, which cost money. But the German health care is better and the German people more health conscious, so it may be a lesser problem than in many other countries. The old people may stay healthy, work to older age and take care of their grandchildren. Thus contributing to the economy and culture of the German people, while consuming less healthcare. Then we have the Ai, 5g and automation. Will we nee so much manual work done?

[@muffigaming2787]

@@atlet1 If one assumes that through greater automation fewer people can generate a greater amount of wealth than you might be right that the problem will be solved through technology. On the health issue I agree that germany will probably deal with that issue somehow. But there too we are relying on mgrant workers I think. Im very interested in seeing where it all leads us.

[@muffigaming2787]

@shen 92 Since Im just 18 yo I dont really have a clue on how difficult it is to marry tbh. But as far as I know if you're just interested in the legal act of marriage and ignoring al pandemic related issues I dont think so. About the young population: While it sounds evil when you put it like that you're probably right. That probably wont be a solution forever but for a couple of decades it will probably keep us afloat.

[@computername]

Three options: * More children (not a political option as women are promoted "equal" and have to have careers) * Less services for the old (not a political option as germans just want more of everything regardless of where it comes from) So the only publicly acceptable option is... MONEY PRINTER GO BRRRR!

[@amende]

@@computername 2050 we will have 9 Billionen (Milliarden) People on earth.

[@alliewhisson8902]

This is such a detailed and well explained video!

[@adarshgupta9508]

What a nice explanation ! Glad that I discovered this channel ... Gonna binge watch now .

[@AltSimplified]

You're most welcome.

[@Arsenic71]

There are a lot of so-called "hidden champions" in Germany - those are the companies that you typically don't hear about and that are typically not publicly traded and are ranked first or second in their niche on the world market, usually with a turnover of less than 3bn Euros/year.

[@jasonfanclub4267]

True 👍

[@MA-go7ee]

I assume these include the producers of capital goods like factory equipment?

[@EnbyFranziskaNagel]

@@MA-go7ee Producers of Capital goods are part of the group but also companies who produce components to be assembled into larger products. Like screws, sealing rings or electrical contacts. Their products are invisible to the consumer.

[@stevedoughty1941]

Germany will always prosper..clever hardworking people.

[@MellonVegan]

Here's the odd thing, we don't even work that much. The average US citizen works I believe 20% more at about the same wage. Funny that. And other countries are doing better, yet.

[@celinam.2513]

@@MellonVegan But we usually work longer.

[@leme5639]

Not cleverness or hard work, it's efficiency and most of the time, they have good elites.

[@hectorcardenas2171]

But they’re like robots without their own minds. Most, I reckon.

[@johann4078]

@@hectorcardenas2171 Sadly very true...

[@Sanginius23]

very good Video. Great researched and presented. PS: this dual educaion system is also in place in Austria

[@tacticalwizard6358]

The German Aging probllem is more severe than the most. *laughs in Japan*

[@codmortel2821]

Damn bro 😅

[@phm904]

cries in south korean

[@scooterbob4432]

No problem. Germany is hiring hundreds of Filipino nurses as well as caregivers to take care of their aging population. No problem for Japan either. Hundreds of new Philippine nurse group is now learning the Japanese language and culture in preparing to work there. In America and UK, 25% of all nurses comes from the Philippines.

[@JohnSmith-kj2od]

@kartikey kasniya we should honestly start exporting babies to other countries that need it

[@rjsils3842]

This channel deserves more viewers

[@AltSimplified]

Thanks RJ SILS! We look forward to growing with people like you 👍

[@vak21]

I don't think the euro benefits Germany by definition. However, I think that the Germans knew how to benefit from the new currency. There was an opportunity, and they make a success out of it.

[@armatus]

the story of reunification is very very complex, and you did your best in the short time available. It is eg noteworthy that the privatisation of east german companies is very controversial. in many cases companies that could have competed with west german companies were undervalued and then bought up by the potential west german competitor. And of those 2 trillion Deutsche Mark a lot, and i mean A LOT went to west german companies, eg in construction) If you are interested in economics that fusion of social capitalism and communist economies is truly unique. also interesting, South Korea sent many people over here to learn what we did well and where we made mistakes.

[@swanpride]

...Germany was struggling with the fall out of Reunification in the 1990s. When all the investments into the former east started to pay off and the East of Germany started to catch up, it naturally turned the ship around again.

[@dratlan5047]

Well, it’s a lot more complicated and the East is still struggling a lot

[@geisterfahreruberholer2171]

@@dratlan5047 True. East and west are still different. But it is the main concept. When you have like 15 to 20 mio more people bascially out of nowhere, your whole private and public budgets and statistics changes. Especially when one side is way different then the other. Fortunately, things are evening out and continue to do so :)

[@ghanvedsingh8946]

@@dratlan5047 some of you may cross from east to west and vise versa with money and education to help each other so that you don't miss match for long

[@JackoBanon1]

For the unification to happen Germany was pressured to abondon its currency, though (Deutsche Mark) and to join the Euro-union. This was a big drop for Germanys wealth because Germany is the only country who keeps this union alive with paying billions of Euros every year.

[@parsonk4041]

@@JackoBanon1 the unification of Germany and the Euro are not really related. The euro was introduced like 10 years later but ofcourse planned well before. Germany is the biggest contributor to the eurozone but also has the most gains.

[@trin3426]

I would love to see a video of the economy of Finland

[@lenn939]

This channel will blow up soon and then I can brag that I was one of the first 10000 subs yayy

[@AltSimplified]

😂 One of the OGs. Maybe one day!

[@I_dont_need_a_handle]

Note: Collective bargaining-rights are still very much a thing in germany. The workforce of every private company with more than 4 members can found a union (or enter a bigger one like the IG Metall, if they allow it) and the company is legally obligated not to interfere with the foundation process. This is because the Version of the Workforce-Management-relationship portrayed here is overly idealized. Wagetheft and -supperssion are existend in germany, even in the Mittelstands-companies. (Though not as prevalent and widespread as in the US fore example-which incidentally also has strong economic regions and weak ons whilest beeing in a currency union while we are at it)

[@jensschroder8214]

As a worker in Germany, earnings compared to prices have decreased since 1990. This leads to a lower domestic demand. Liberal laws have helped companies but weakened the position of the population. I don't think that will help the economy in the long run. I think that's why some people tend to choose parties on the left or right. Because the parties in the middle are responsible for the development.

[@jansix4287]

The breakdown of communism is responsible for low-wage competition right within the EU. Germany or rather West-Germany is famous for having survived the rise of Eastern Europe. You can move to Italy or France and look for a better economy there. We’re at zero percent inflation now, so don’t pretend you’re still getting poorer.

[@MisterPyOne]

Yep, my salary stays the same, but I witnessed e.g. how in a bakery the price of a croissant doubled over 3-4 years and most products increasing 50ct in price.

[@kleckerklotz9620]

@@jansix4287 "The breakdown of communism is responsible for low-wage competition right within the EU." I wouldn't say only that breakdown is responsible. I would say a society which doesn't care if a part of it is starving, freezing or threatend by environment is much more responsible for low-wage competition. If all the governments on earth would take more care of that, we wouldn't have this discussion.

[@jansix4287]

@@kleckerklotz9620 Well, the cheap Chinese labor is out there. But it makes a huge difference how you react to it. One way is outsourcing everything and then elect Trump to start a trade war with China.

[@kleckerklotz9620]

@@jansix4287 The cheap Chinese labour isn't as cheap as it was in the 90ies anymore. Now China is developing it's own technology. And that's a good thing. My home country Germany for example has a lack of nursing staff. Hospitals try to recruit some in foreign countries. But these people don't want to come. And do you know why? They know this job is shit - especially in Germany. Now the hospitals have to change working conditions. That's good for employees. Another example: A German company tried to establish a subsidiary in India. It was a big fail. Indian mentality is different to German. The focus of most people there is more on the family and less on the job. And that's good for German employees and good for Indian tradition. All this outsourcing and production relocation has some major drawbacks for corporations. What you call "elect Trump and start a trade war" is just a logical consequence of a strengthened workforce worldwide. This thinking of my country vs. this arbitrary other, is just plain stupid, if you ask me. The true borders are between the few super-rich and the poor many. If you vote for Trump, you fall into the trap of the super-rich.

[@danielgerber8452]

One thing to mention is, that in Germany health care is absolutely not regarded as socialist. The first health care system was put in place by Bismarck in 1883 who was definitely NOT a socialist.

[@dominikmanthei4546]

There was growing support for socialism that led to him introducing it.

[@pg259]

@@dominikmanthei4546 He did introduce it to move the workers to support the newly founded germany.

[@helmutzollner5496]

Well you call it labour market reform, it is actually labour dumping. Incomes for a large part of the labour force are low which lead to lower consumption. This in turn has led to a right swing of the political spectrum. Funnily enough this is leading to a protectionist, anti-EU sentiment in a significant part of the population. About 25% of the German labour force has been pushed into precarious labour contracts, which do not generate enough revenue to live of. The state is subsidizing these low-wage positions with top-up payment from social welfare. This is especially rampant in conurbanations like Berlin, where a significant part of the manual labour has to be subsidized.

[@Hamsterdam91]

great sum up

[@Hamsterdam91]

@Sun Moon Germany as a Country or the German Government are big supporters of the EU as well as most of the people but he meant the AfD who rally for voters with anti EU statements and their supporters and about 10% of voters would atm vote for them what I agree is not too much but I think is a significant part

[@gerohubner5101]

@Sun Moon None if his assumptions and arguments is true. It is nothing but socialist, idealogical framing, unrelated to the real social situation as is in Germany.

[@jimjones6866]

What you are describing sounds very similar to the situation in the UK.

[@helmutzollner5496]

@@jimjones6866 yes, and according the University of Athens labour deflation has always in the past led to a right shift in the polutica spectrum in a population. So, by the Conservatives or SPD in Germany instituting these reforms they pre-programned a right shift. In the case of the SPD they cut off the branch they were sitting on, but in the case of the Cons they actually made their pool bigger, at least untill ratcatchers like Farage syphon off that shifted electorate and ultimately dooming themselves too. Well, I don't mind these games by as long as this will not result in a war, things can be set back at a later stage.

[@monangagustian3564]

As Indonesian, I really like the idea of "Apprenticeship" and "Mittelstand". Somehow I think both are just what Indonesia need in the long run, since our leadership prefer long term stability rather than "boom and bust" cycles.

[@PianistStefanBoetel]

Yes, in Germany, "blue collar work" has better reputation. As a plumber or electrician owning a small business you can get relatively wealthy. And if you hire them into your house you can be assured they know what they are doing because they received sound training and a certificate by the state.

[@monangagustian3564]

@@PianistStefanBoetel It's really a good society when honest talented people can live a proper and prosper life, simply by being good at what they do.

[@jansix4287]

It’s not a matter of preference, boom-bust is not long-term sustainable. The cycle will eventually come to a halt in a permanent state of bust. Trump is only a symptom for the US economy failing for blue collar workers.

[@HugostarGames]

@@PianistStefanBoetel even tho getting self-employed would be something i would fear as a german, having to pay more tax and FULL social insurrance, without labourprotection laws and minimum wage...yeah...thats btw how we scam east european workers into poverty...

[@Hamsterdam91]

Indonesia needs at least a light version of a German apprenticeship. I mean a lot of what I learned I did or do not need for the jobs I did so I guess 1 year could be enough to learn what you need even tough it would be not as much as Germans do know after the 3+ years. I was working in Indonesia for some month. It should have been almost a year but I had to leave earlier because of covid and lockdown. And so I was working for this big mining company in Indonesia and they wanted me to get the companies "license" to work as an electrician as all their electricians have to. So they have this one day training class what is like a 5 hour PowerPoint presentation about electric and 3-4 hours of that is about how to not kill yourself while working as an electrician followed by a short multiple choice quiz. I have to say I felt a little bit... well I think offended would be bit too harsh, but like, why the f... do I need to do this test. I did the 3.5 years dual apprenticeship followed by 2 years of technical collage to become a "state certified technician" what is probably knowledge wise comparable to a mediocre US American engineer from a state collage, and 6 years of working experience with my employer who you pay probably more per month, than a local labor worker costs per year, to have me here doing this job because you know I can do it and there is no one better to get for this. Why do I have to do the same training as the people who start working here holding a screwdriver for the first time in their life? But the worst thing is that this is the training they get before working as an electrician. You tell them everything they have to do and make sure they do nothing wrong because they never learned. They learn if you show them and they asked to learn, if they know enough English but they can not work on their own. In Germany the apprentice cost you money. Not only do apprentices get paid (significantly less than trained workers) but they also make mistakes that cost you money and you pay people to watch them and train them and then they finish and you have skilled workers doing their job efficient, fast and with little mistakes and now they earn you good money. But with untrained people it is like they cost you money like an apprentice, doing mistakes, not knowing how to do something the best way so it is easy and fast, having someone continuously check their work, it takes many years of work experience to learn what a German apprentice already knows in the second year. Proper training is better for employer and employees

[@Letzover]

Komisch Germany im Titel und noch keiner hat versucht die Kommentarsektion einzunehmen...

[@xy7721]

Du hast recht. Das muss sich ändern!

[@zeldaplayer3207]

Weißt du auch warum? Weil das wirklich, wirklich cringe ist. Am schlimmsten ist "Ein Volk, Ein Reich, ein Kommentarbereich" Das war mal ganz lustig als wir alle noch 12 waren aber jetzt... Idk, das ist eine ganz weirde Form von ünterdrücktem Nationalstolz... Aber Disclaimer: alles nur meine Meinung

[@Letzover]

@@zeldaplayer3207 nice ich bin noch 12 ich darf´s witzig finden yippie

[@shift-happens]

Excellent video, thanks so much!

[@0farmerjohn0]

German companies think ahead in decades and not quarterly earnings. That right there is the difference.

[@einmensch9467]

As a german i sadly have to declare this a myth. (At least for the big cooperations)

[@aristoearth5657]

Did you forget the Diesel crisis?

[@Berke5050]

Unfortunaly that only counts for the mittelstand. The Big one's, especially BMW thinks only in quarters. Infact they are corrupting the politic parties to make sure their quarters are looking good

[@summerfield01]

DO NOT PAY YOURSELF FIRST. THAT'S THE WORST BUDGET ADVICE I'VE EVER HEARD. IT UNDERMINES THE CURRENT FINANCIAL REALITY OF THE LOW AND MIDDLE CLASS. BILLS, FIRST, SAVE AFTER.

[@TheKarina-ns1ob]

The "pay yourself first" strategy involves making a budget of wants and needs. Once you budget your needs, you know how much money you can pay yourself first before spending on wants. Pay yourself first, and pay bills when they are due...

[@summerfield01]

@@TheKarina-ns1ob I know what the strategy is. Learned about it back in 2014 while taking an economics and finance class. Also, now that it was first created in the early 1920s when we were living in a very different economic state. That strategy should not apply to people where we are currently. I agree with everything else you said though and think this was great content to share. 🙏

[@meredithpoor1042]

@Kim Flessler-Hyman I'm one of her clients.... and I'm a living testimony of Expert Mrs pamela . She has changed my financial status for the best, all thanks😊 to my friend who introduced her to me

[@PatriciaGabrielaTorres]

5.4BTC and still counting in just 2 months, Expert Mrs Pamela is the trade Queen 👸 as far as I'm concerned.

[@Rudenz8]

Amazing! I'm new in trading how and where can I get this Expert Pamela ?

[@wolfeater4949]

Germany is the American Dream of Europe. The success comes from grounded German working mentality and love to quality. Though these guys did not have enough children, so the magic will disappear.

[@s9ka972]

Better than giving options for other EU citizens ; work visas for Asians would be a better option. Countries like GCC has been doing this for decades without causing a headache on demographics.

[@wolfeater4949]

@@s9ka972 Yes, it might be true!!!

[@parsonk4041]

The children from other countries adapted this though over generations in Germany. It's not all lost.

[@wolfeater4949]

@@parsonk4041 Let's hope that!

[@parsonk4041]

@@wolfeater4949 since the guestworkers came to Germany they where just as hard working as the Germans with same quality. That's one of the reason why Germany is doing so well today. So it actually happened already. All is good.

[@J2J_Trini]

Excellent explanation 👌

[@deutscheregierung]

finally my time has come edit: i didnt expect this comment being so popular! stop liking this comment or i will delete it at 300 likes! 😡 THIS IS NO JOKE

[@nuclearmask8991]

Ah I love to live inside you. But fix the Kölner Dom already.

[@OhioHeaven]

DEUTSCHLAND

[@remastered1790]

Pls fix the Internet connection... uncool

[@stevegatzsch667]

kzbin.info/www/bejne/d5TJZWN7aKeIhac

[@OhioHeaven]

@@stevegatzsch667 Geil das Video

[@Ashadow700]

10:10 Is it weird that I instinctively almost turned off the video because I thought you were transitioning over to a Skillshare ad? Geeze, I just realized how much RealLifeLore and Wendover that I must have been watching as off late.... Oh, sick video btw! I'll sub right now just so that I will be able to say "I was before this channel was cool" when it hits 1M subscribers ^_^

[@AltSimplified]

Thanks for the comment! Haha, the perks of being a small channel 👍

[@Aninkovsky]

This channel reminds me much of economics explained. In a good way of course...

[@NeovanGoth]

Yes, there was n extremely similar video on EE

[@samkalapseudo8998]

this channel economy view is better EE

[@martinstubs6203]

The irony of the euro introduction is that France, for one, wanted the currency in order to rein in Gerrmany's overwhelming economic power after unification. Well, that really backfired!

[@asxnkmb]

Great video. Almost thought this is EE at the start.

[@TTOMATOZAPHIMM]

It almost feels like a carbon copy...

[@geoffreycharles6330]

It should also be mentioned that Germany has at least 3 navigable river that reduce transportation costs to basically 0 and makes it possible to transport goods pratically down till the Alps for nothing.

[@arlacta]

my man, dropping the hard geopolitics facts

[@ahmadshamimsaifulazlan6286]

This is why I want to study economics in Germany

[@AltSimplified]

Go for it!

[@ersin1483]

Dont study economics

[@ahmadshamimsaifulazlan6286]

@@ersin1483 why what’s wrong with that?

[@ersin1483]

@@ahmadshamimsaifulazlan6286 there are too many economic graduates in Germany. I would prefer to study Engineering with Business Administration for example (Wirtschaftsingenieurwesen in german)

[@ahmadshamimsaifulazlan6286]

@@ersin1483 I think there’s way too many people taking engineering course but economics is just one the few suggestions I will be taking

[@theknight4317]

Good work.

[@jaloley8558]

But thanks to the death of unionism the Mittelstand is getting smaller while we now also have the biggest low-wage sector in Europe not proportional to population. And our minimum wage is not enough to not need state assistance in high age

[@christianminga90]

Great description of Mittelstand. Although, things are changing and the ill way of seeing things in quarters rather than decades and in KPIs rather than value is growing also in those small to medium companies.

[@kingfreddy5268]

As a German have to say there are way too many ppl in higher education and most of them shouldnt be there

[@stephanweber2007]

Just a sidemark: 5(,5)% ‚Solidaritätszuschlag‘ (solidary tax) isn‘t as much as it seems because it is put on the Incometax not on the income itself

[@ayoCC]

Additionally.: that makes it so a person in a higher tax bracket pays more than a person in a lower tax bracket. If you pay 30%, that makes it so 5% of that is only an increase of 1,5%. If you pay 50% of your income, that's an increase of 2,5%

[@ChickenVeggi]

Can you do a video on income inequality? Not like is it a bad or good thing, but to what degree is it good. Thank you

[@JagdeepGrover]

Great work

[@frankschultealbert682]

one important thing got missed out that explains why the Mittelstand and their worker get on with each other, it is called "Mitbestimmung". Workers and their council have a voice when it comes on how a company is run. And maybe a cultural thing is "compromise"; unknown to some neighbours.Oh, and for sure Europe and the the Euro have helped a lot. No other country has benefited as much as Germany. Stability (political) is another point. Kohl was Kanzler for 16 years and Merkel for nearly as long. The major labor reform was done by a SPD & Greens government, not loved for what they did in between Kohl and Merkel.

[@jenson1896]

Really good video ❤️

[@MrCarlyMS]

I believe the German economy will be facing stronger challenges in the current and future global market. Brexit will be felt and the trade deals between E.U. and China will also have an overall adverse affect.

[@alexd2490]

Brexit will be felt how ? Please develop your point. Are you able to do that 🤣?

[@piotrwojdelko1150]

I hope you will be back in 5 or 10yrs and I hope after this experiment of brexit the EU will be stronger than ever .

[@boniviebudao4352]

Germany survived much harder economic restrictions and setbacks it will always rebounce and outperform others

[@Strix2031]

The China-EU trade deals are specially good for germany since China is 20% of german imports

[@marouanbakkali3124]

Nice!

[@ultratoonfanclubtv6241]

Please do Japan next, this is the country I am most interested in and want to succeed in the future

[@AltSimplified]

A fantastic economy to cover! Certainly on the list and one which will undoubtedly feature more than once 👍

[@nasb2218]

I hesitate Fürst to watch your videos because of small subscribers. But now I'm glad I did, a very professional essay, I really did learn a lot from it. Thank you. 💞

[@veliostv9089]

I am really proud to be German. After all, it was our fathers and grandfathers who rebuilt a nation from the ashes to one of the best functioning countries, not only talking about economy. We just learned our lesson.

[@Strix2031]

I plan to live in Germany one day,really admire your culture and values

[@veliostv9089]

@@Strix2031 Hope you can fulfil your dreams, mate! All the best for you :)

[@Akshi25]

1:25-1:48 1:48-3:01 6:50-8:10

[@aint_just_whistlin_dixie]

So basically... 1. the Euro makes German exports cheaper than they otherwise would be; 2. Euros get sucked into Germany like a giant vacuum cleaner; 3. other countries in the Eurozone, like Italy, wind up with higher unemployment, shuttered factories, and higher gov't debt 4. Some of the Euros sucked into Germany are recycled thru the European Central Bank, which then buy government bonds of already indebted Eurozone countries (Italy, Greece, Spain) at ridiculously low rates 5. the bond sales pay for things like social services for the Italians & Greeks who can't find jobs because of German competition, creating a permanent underclass of people on welfare Bottom line: if the German export machine fails, the European Union goes down in flames.

[@sturmtruppler6909]

Well you have earned my sub

[@Mister__Jey]

Well, there is a lot of information missing, e.g. That a large part of the German middle class and especially the middle class that is technologically advanced, or the world market leader, is meanwhile being bought up by the Chinese. The pensions here are an absolute joke compared to Italy or other southern European countries, although more is being done in Germany, but Germany is still the financier or the wallet of the European Union.

[@yogesh84]

Agreed

[@Sedna063]

Pensions in Italy? Lol, they are not great at all. Their social security is rudimentary.

[@bluesclues132]

The age where you could rely on being provided a pension are gone . People are going to have to rely on investing their savings themselves going forward . I’m never paying into a pension 😂. They’re ALL ( private and public ) going to be insolvent soon . Pensions are a racket .

[@Norvecte.doktor]

Another great video. :)

[@ehanoldaccount5893]

Geography ensures Germany if unified will be the leader of Europe. Many have tried to avoid it which has led to much war, yet inevitably if Germany stands, it will lead. The simple answer is geography and Germans being German are the reason for the economic wonders. Don’t forget, most the laborers who helped American succeed were German.

[@wielblad1344]

w niemieckiej kulturze jest coś co doprowadziło do nazizmu i holokaustu... świat pokonał nazizm i zastopował holokaust... nie znalazł jednak przyczyny która wywołała tą tragedię... i tu nie chodzi tak do końca o samą geografię... czy potrafisz powiedzieć dlaczego Niemcy chcą dominować? ty mówisz że chcą liderować ale to zupełnie co innego! to DOMINACJA! chcesz dowodu? choćby Grecja... jest w strefie euro prawda? zadłużyła się i zbankrutowała... ale czy wspólny pieniądz i wspólny bank nie zobowiązuje do odpowiedzialności? jak Niemcy były beneficjentami nadmiernego greckiego zadłużenia to wszystko było ok? a jak przyszedł dzień "zapłaty" to cała wina Greków? nie jest to narodowy szowinizm???? to niby co to jest? na wchłonięcie NRD niemiecki podatnik nie szczędził pieniędzy! a na Grecję tak! powód to czysty szowinizm narodowy... a skoro tak to po co był wspólny pieniądz? nie po to by w długiej perspektywie skolonizować ekonomicznie Greków???? takie to Niemcy demokratyczne i dbające o pokój i europejską wspólnotę a tymczasem razem z Putinem budują Nord Stream 2! Putin to dyktator i agresor! i jakoś "demokratycznym" Niemcom to nie przeszkadza? wiesz że straci na tym Ukraina? i to parę procent ich PKB? w imię czego? solidarności? wspólnego rynku? przestań... najlepszym przykładem jest ograniczenie polskich firm transportowych! niby wspólny rynek! wygrywają najlepsze firmy! ale nie z Polski... nie jest to narodowy szowinizm? a niby czym jest? wszak polskie firmy transportowe przyczyniały się do tańszego lepszego transportu na terenie całej UE! to chyba najważniejsza wartość? no nie... narodowy szowinizm bierze górę ;) Niemcy powinny upaść! należy zniszczyć to dążenie do dominacji! to jest prawdziwe zagrożenie dla całej Europy!!!!

[@ehanoldaccount5893]

@@wielblad1344 English? Deutsch?

[@wielblad1344]

@@ehanoldaccount5893 człowieku to polski! nie bądź dupa skorzystaj z translatora...

[@ehanoldaccount5893]

@@wielblad1344 bruh

[@herrputschy54]

@@wielblad1344 Na dann antworte ich mal auf Deutsch. Zu Nationalismus kommt man schnell wenn man sich ungerecht behandelt fühlt, siehe Polen, oder Ungarn. Musterbeispiele für Nationalismus. Der Holocaust war ein Extrem, geboren aus Ignoranz und Planlosigkeit. Die derzeitige Politik Deutschlands zeigt, das Deutschland eben nicht Dominien will Auch vor dem 1. Weltkrieg wollte Deutschland nicht direkt dominieren, lediglich England Gleichziehen. Das Griechenland in der Eurozone ist geht eher auf Frankreich zurück, Deutschland hat die Maastricht-Kreterin erwirkt die den Beitritt Griechenlands eigentlich verhindert hätten. Die Nutznießer der Griechenland Kriese waren vor allem Französische und Italienische Privatbanken, Deutschland hatte nur Kosten dadurch. Natürlich sind die Griechen ALLEINE für IHRE schulden haftbar. Das waren die Bedingungen zum eintritt in den Euro, wenn sie das nicht Wellen hätten sie nicht Beitreten sollen. Die DDR ist nicht vergleichbar, es ist das Selbe Volk und die Gemeinsamkeit ist Seit Hunderten von Jahren vorhanden. Was genau ist das Problem mit NS2? Wir machen auch mit Anderen Diktatoren Geschäfte, das ist die Realität. Auch die USA machen mit Putin Geschäfte. Woher Stammt das Recht der Ukraine mit Russischem Gas Geld zu verdienen Das was die da betreiben ist Wegelagerei und das ganze Geld verliert sich im Korruption Sumpf. Ohne ist das Volk besser dran. Die meiste LKW fahrer in Deutschland kommen aus Polen. Ich sehe das Problem nicht. Könnte das Problem vielleicht darin liegen das ihr euch von Deutschland überschattet fühlt? Zerstört Deutschland um Platz für Polen zu schaffen.

[@sebasgiraldomusica]

Helloooo, I loved the video, REALLY! However I wanted to know if you have some sources of information, data and stuff. As I am doing a research for Uni and I am not sure where to exatly get this data Would love to cite this video but it is not acceptable as a source :c Thanks a lot!! Sebastian

[@jarekhamerski2910]

Wszystkiego dobrego bo ciężko na to pracują 🇵🇱 🖤❤️💛◉‿◉

[@kevinroman988]

How come you haven’t made new video in a year?

[@Spread_peace651]

I am an INDIAN. studying masters in germany now. So i will study here and then i will return to INDIA to grow our economy as it is already a big market now. But I want stability ilke germany. These people are very disciplined and honest. But one thing they are rude and dont try to help when needed. But only think about work. And no one is there on the streets at 9pm here. In INDIA or Asia people have fun till 11 pm on the streets... Its energetic. So overall they are good in their work.

[@thornkamyar2328]

The problem is India needs more talents like you. Many successful Indians dumped their Motherland. Germany is developed economy. They can survive without you.

[@geisterfahreruberholer2171]

Your kind of immigration is also not wanted when you study here but didnt get the concept. "Work hard, play hard" as americans would say is basicially like how Germany works. Work? Be punctual, disciplined, good etc. Freetime? Do whatever the fuck you want and enjoy it to the fullest. This is why we have so many holidays, fests, concerts etc. Also its not rude, it is direct. And Englishmen once said to me - and I will never forget that - "The world is too polite to be honest. Germans are too honest to be polite."

[@Spread_peace651]

@@geisterfahreruberholer2171 okay man😅. I will. So far i have understood German way of working and talking now. Just thing is to gain practical experience in supply chain in Europe and US. Then to INDIA again

[@geisterfahreruberholer2171]

@@Spread_peace651 Do it. Your country and you as a person will improve :)

[@Spread_peace651]

@@geisterfahreruberholer2171 Sure i will. Thank you. Well where u live

[@j.rinaldi87]

How about the impact that electric and self-driving vehicles are going to have on the German economy? As of today, it isn't clear that German companies will lead those technologies.

[@oleggusev9467]

Guess which company quietly won the first place in the biggest electric vehicle market, Europe, in the fourth quarter of 2020? Answer: Volkswagen Group.

[@thomasborgsmidt9801]

That is viewing it to narrow: The point being that Germany tries to do the same thing with the other European countries that it did with East Germany. Germany has a great import as well! But it means that they outsource suppliers to say italian factories - if they are of equal price and quality. The number of "German" parts in a Volkswagen is small.

[@V.D.22]

the parts are made in other countries, but many companies that make them are german. They just moved to countries where wages are lower. There are plenty of German companies that do this here in Romania.

[@oskars1419]

Greetings Germany from Poland :d

[@Brrrrrrrrrrrrrrrrrrrrrt]

Sounds so cute how you pronounce these german words xD

[@333PublicTransit]

Great video bro. A british economics explained!

[@tedchandran]

Germany has been too slow to barge into the new Digital age.

[@progameryt4058]

Yes

[@qjtvaddict]

A dark country will catch up and pass em at this point

[@tedchandran]

@@qjtvaddict Jai Hinduja. India will be the 4th biggest economy and passes Germany in 2028.

[@maximilian5817]

@@tedchandran India also has 1.35 billion people while germany only has a population of 83 million.

[@r3versepancake455]

@@tedchandran India will have some other problems first. They need to spend a huge amount of money to like help the population. 68% have to live with less than 2 US Dollars per day and 30% less than 1,25 Dollars

[@christophvonwaldhuf]

I would really like a follow up video for 2023 and coming.

[@lucasobrador]

Hola Prussia el Bavaria

[@Aetherguy-cb9bu]

Prusia no existe más xd

[@sualtam9509]

The German eonomic miracle relied only to a very small degree on the Marshal plan. the MP was mainly a subsidie to American producers, while Germans could buy American products on loans by the US government. It had one major function though: To normalize the economic relations of Germany and other countries. The main reasons are: 1. Low labour costs. The Nazis were no socialists at all. Banning unions and freezing wages at the 1935 level. Thus wages could grow while keeping them competitive after the war. 2. High productivity. The war economy saw a large increase in productivity and industrial output. Industries were not destroyed since the allies bombed civilians instead of strategic targets. 3. Not fighting in colonial wars and loosing them. Unless France, Britain and America; Germany didn't loose colonial wars after WW2. Thus gaining in relative strength. 4. High social mobility and education. The war saw an immense social mobility and qualification for the majority of the population. Every working man was educated to his maximum potential. 5. High domestic consumption. Because of workers shortage and low base wages. People experienced safety and growth in their income and spend it like hell.

[@buninparadise9476]

NIEDRIGLOHNSEKTOR

[@hanslumek3583]

12:14 wasen t that ausria (Österreich)???????

[@Philipp_-cp2xw]

No that's Frankfurt

[@theancientsancients1769]

Actually between 1997 to 2008 the UK had the largest growth rate In Europe but never talked about much with lowest unemployment. Countries across Europe including Germany were intrigued

[@steeler54combathamster52]

after Germany took you out of the swamp....LOL

[@maavosri3405]

I loved this video. Perhaps this is the most underrated channel on KZbin. The content this channel is posting is top notch. I am looking forward to see a similar video on France.

[@jaichind]

Is this not more about Germany removing other Western European competition via the Euro to ensure other European economies cannot devalue their currencies to gain an export edge over Germany ?

[@endowpanda]

my favorite country which i respect a lot

[@KyuQem]

this is just a german thing to do

[@akahiro1671]

His take on Siemens sounded really close to Semens

[@rainer6736]

Its partly for this reason: Germany has a work culture similar to the Japanese. Work is the centre of their life, and they take great pride in their work.

[@jan68727]

Close,

[@parsonk4041]

Schuld and Schulden sound similar but are not the same. They have different meanings.

[@mctobi2921]

But that it includes the word/ has the same roots says a lot

[@antonioklaic4839]

Semens

[@patriks.7815]

Thats the secret

[@Aetherguy-cb9bu]

@@patriks.7815 Yet another scandal plagues a teutonic enterprise.

[@unknownfactor6489]

-Think 10 years ahead, not short time -You need capital -Support non-univercity workers as well

[@jasonfanclub4267]

Living in Germany I didn't experience a difference. Car manufacturers still suck and digitalization and internet infrastructure is still very bad compared to other European countries

[@Coeurebene1]

Another threat is that the Euro is a double edged sword. It's not a unique currency as many think, it's many national currencies that have the same name and are worth the same, but are backed by different national banks. Therefore a lot of rich people from Southern Europe buy German Euros, putting a lot of risk on the Bundesbank if the imbalance goes too far.

[@Jim89M]

I live in Germany, and I can say that for the average people Germany was much better 20 years ago. Higher true salaries, well paid stable jobs, more benefits. The cost of living, especially rent has skyrocketed since. Inequality gets worse.

[@god6630]

Halt dein Maul und hör auf scheiße zu labern. „I can soy That for the average“. Hör auf deine Meinung zu verallgemeinern.

[@zerohero5753]

That's true for every Western countries. The quality of life of the 80s and 90s was the best and the growth rate has slowed down significantly since then. Asia countries on the other hand is living better than they ever did. We are paying the price for the excess lifestyle of our ancestors.