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Germany went into recession later than the UK and still had growth right up until the last quater of 2008 (unadjusted figure). Why?
Is the German economy more resistant and robust against external shocks? Why (not)?
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Because German still manufactures things, products that people want, where as in the UK are economy is based around financial services, making money out of money is much more flimsy.
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The UK economy is robust and we are well-placed to withstand the current economic crisis.
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One of the main reasons is that the property market in Germany was never as overheated as in the UK meaning that home owners are not as stretched. Secondly, the German economy is based on exporting high tech products in which labour cost does not play as important a role regardimng competition (the price for that is high unemployment amongst low qualified people). Thirdly, the government is subsidizing part time work which at least for the time being keeps unemployment low.
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No. The German economy is the worst hit economy in Europe over this recession because international trade has collapsed and Germany's economy is heavily reliant upon exports more so than other EU nations.
Germany's economy is expected to shrink by 6% in 2009, as opposed to 4.3% in the UK, 2.5% in France
