The sun is setting on Germany’s once-prolific industrial base as the country continues to grapple with a lingering energy crisis and wider economic malaise, Bloomberg News reported Saturday.
Many German manufacturing and industrial companies are looking to make future investments elsewhere, eliminating jobs and closing plants, thanks in large part to higher energy costs induced by the country’s embrace of green energy . Germany was once widely considered to be the economic powerhouse of Europe, but the years-long trend of decline in its manufacturing sector is now accelerating quickly as high energy costs, red tape and elevated inflation are blunting the sector’s competitive edge, according to Bloomberg News.
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