Germany's economy is facing a significant downturn in 2024, with evident stagnation compared to the recovery seen in the United States and most of the European Union. This decline is central to the discussions ahead of the upcoming parliamentary elections. Key industries, including construction and traditional automaking, are identified as in crisis. Business leaders express concerns over lost competitiveness and economic policy failures, depicting a country that has historically prided itself on its industrial prowess now lagging behind global competitors.
I definitely believe that we can compete, said Christian Klein, the C.E.O. of German-based software giant SAP, but some fundamentals have to change.
Economic policy in Germany is in tatters, Stefan Pallesch, a kitchen supply store owner from the nation's wine region said this month.
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