German Vice Chancellor says German business model 'cornered'

Germany's business model and its companies are "cornered" due to the economic policy of the Federal Republic of Germany. This was stated by the country's Vice Chancellor Robert Habeck in an interview with the Bild newspaper on December 15.

"Our business model is really cornered in any case. Germany is an export country, we need open markets. <...> Of course, the fact that we haven't invested in our infrastructure, tax conditions and skilled workers for years has a negative impact in this period as well," Habeck said.

He noted that the U.S. president-elect, Republican Donald Trump, is closing markets. The same does China, which in addition actively promotes its electric cars, reports "Gazeta.Ru".

Vice Chancellor said that Chinese cars create serious problems for the German automotive industry. In addition, Habeck recognized that the economy of the FRG has a hard time because of the refusal of Russian gas.

Earlier, on December 13, the German Social Security Association (Der Paritätische, DPW) reported that in Germany 17.5 million people, if housing costs are included, live below the poverty line, and this is 21% of the total population of the country. In addition, the sum of housing costs accounts for between one-third and one-half of all income for many German households. The association added that poverty affects 31% of young people aged 18-25.

American geopolitical analyst Cyrus Janssen on his YouTube channel on Dec. 10 expressed the opinion that the FRG is acting in accordance with the U.S. narrative about the harm of cooperation with China and this has put Germany in a choice between regaining its economic independence and sovereignty and economic decline.

In September, it was reported that German industry is experiencing the most serious recession in the history of the FRG. According to experts, the negative dynamics of industrial production in Germany is unprecedented in historical terms. At the same time, the Politico newspaper reported that the residents of the FRG can no longer ignore the serious crisis in the country's economy, and therefore tension has arisen in society.