More than 8% of the German industry is leaving Germany b/c of the current energy shortages (gas & electricity etc.) and the high energy prices. Most of them are going to China. And another 16+% are going to reduce (or even stop) their production b/c of material and energy shortages. This development of course will affect the German economy as a whole as well the DAX index etc. The German 'Chambers of Industry and Commerce (DIHK)' says "These are alarming figures". Source (in German) [dated Nov 1, 2022]: https://www.spiegel.de/wirtschaft/s...lagern-a-6a1d507b-fc77-4fe1-b0e1-d9029737d3d9 https://www.welt.de/wirtschaft/arti...wegen-hoher-Energiepreise-die-Produktion.html Older sources [July 2022]: https://www.handelsblatt.com/politi...n-oder-schraenken-geschaeft-ein/28544872.html See also (in English) [July 2022]: https://www.cnbc.com/2022/07/24/ger...on-due-to-high-energy-prices-dihk-survey.html
Which part do you find inefficient? The reallocation of capital from the middle class to the elites such as practiced and celebrated in North America?
This just shows the total folly of those who think Putin will get damaged by embargoes. Putin is not selling to Europe. We "embargoed" that. So, he's selling everything to China and India (at a discount) Germany (the EU powerhouse) is shutting down. East Cost of the U.S is almost out of diesel fuel. More non-imports (embargoed) from Russia. This is a plan devised by U.S. officials ? Whose side are they on ? What parallel universe are we in ?
Every now and then our American neighbor down south loves to declare the immediate demise of Europe and Germany in particular. Happened several times with the Euro, then with Spain/Portugal, then Greece, then France, then Italy, now Germany. Each time Europe emerged stronger and more technologically advanced. Being first mover carries risks such as with renewable energy in Germany. But it's not hard to imagine that Germany might become completely fossil independent in a decade or so. Imagine that: a nation of 86 million people and one of the most technologically advanced nations in the world completely independent of any fossil fuels. I won't hold my breath for this century for the US or Canada at all.
I won't hold my breath. You Europe haters have rehashed the same bollocks for over 3 decades now (some extremists since 1949). Quite the dare coming from a region that still played wild west a mere 2 centuries ago that judges a region of vastly different cultures that existed for thousands of years through numerous wars which, however, somehow always has been able to stand up again and move on... ...and you are not that important that others need to wait for your extended response, especially not when their post was in reply to somone else...