Germany Essay - 960 Words

Germany Germany is currently experiencing a labor shortage, which is adversely affecting their Gross Domestic Product. If current trends continue in Germany the country could find itself in a serious recession. This would not only effect Germany but all of Europe as well for Germany is the single most important trading partner for almost all of the European countries (Bogdanowicz). This is not a new situation in Germany, for the past seven consecutive quarters activity in the construction sector of the German economy has declined (German GDP). Not only did German industrial output fall, but this was also the lowest annual increase in Gross Domestic Product since the first quarter of 1997, when the Gross Domestic Product†¦show more content†¦Regardless of the government’s denial of a recession, there are several possible causes of the current economic situation in Germany such as the lack of skilled labor as well as a decline in trade. Due to the global economic downturn the German Finance Ministry blames the decline in global exports as a contributing factor to the unfortunate situation of the economy (German Finance). This lack of trading has led to the careful attitude of German investors as confidence in German business has declined for the fifth month in a row (Bogdanowicz). The most probable origin of this state of economic affairs is the serious deficiency of German skilled workforce. The country’s birth rate is among the lowest in Europe. The German population is expected to fall from 82 million to less than 60 million people over the next fifty years and the workforce will be nearly cut in half (Germany Pressed). Interior Minister Otto Schily, â€Å"We must recognize that to secure our prosperity, out future, we are dependant on people from other countries with skills that we desperately need†(Germany Pressed). In order to salvage the German economy, experts say that at least half a million-immigrant workers will be essential (German Region). If a country is on the brink of an economic crisis and their supply of skilled labor is dwindling then a country should reevaluate its immigration policies and recruitShow MoreRelatedGermany : The Country Of Germany891 Words   |  4 PagesINTRODUCTION The country that I selected for the country report paper was Germany. Since I was last in the country, 45 years ago, many things have changed for Germany. The country was reunified in 1990, became Europe s economic powerhouse, and is now the most important nation in the European Union. Germany is situated in northern central Europe and covers an area of 137,983 mi ². 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