A U.S. Recession Will Reveal Germany’s Dark Side
Germany is Europe’s economic superstar—its great success story. Germany’s low unemployment rate of 3.6 percent is half the overall rate for the European Union and the envy of the Continent. Its economy continues to grow steadily while other major EU countries like Spain and Italy have barely grown at all since the 2008 financial crisis.
Despite all this good news, Germany has a deadly Achilles’ heel: the United States.
Germany’s economy depends on exports, which account for nearly half of its economy.
This makes Germany uniquely vulnerable to global economic shocks. What will happen when the next recession hits the U.S.?