Part 3/10:
Economic Downturn and Job Insecurity
Germany's economic struggles stem from a series of factors that have culminated in a significant decline in living standards. Once lauded as Europe’s economic powerhouse, the country boasted a $310 billion trade surplus at its peak in 2016, primarily driven by its reputation for high-quality exports. However, a combination of global economic downturns, increased competition from countries like China, and trade disputes with major partners such as the United States has siphoned away this success.