Germany Is Now World’s Third-Largest Economy

Germany is now the world’s third-biggest economy after Japan unexpectedly fell into recession, Reuters reported on February 15. With a gross domestic product of $4.5 trillion, Germany has overtaken Japan, which has a gdp of $4.2 trillion. Only the United States and China have larger gdps.

China investments: A considerable amount of German economic power derives from its dealings with China. In the past three years, German companies have invested as much in China as in the six previous years, according to the Cologne Institute for Economic Research.

Last year, German direct investment in China rose by 4.3 percent to a record high of €11.9 billion (us$12.7 billion). Investment in China also grew as a share of Germany’s overall investment abroad.

Still weaker than it should be: Germany, however, is currently facing major challenges for its economy, such as high energy costs, record-high interest rates, a weakened coalition and nationwide protests against government plans to cut diesel subsidies.

The government suffered a massive setback in November when Germany’s top court rejected its 2024 budget plans, which led to a €17 billion ($18.6 billion) funding gap.

The Trumpet says: Germany is a strong economic power, with a lot of short-term problems. Expect some major changes to take place soon in Germany’s political and economic system that will make it far stronger than it is now. The Bible shows that Germany will soon be at the head of a revived European superpower that will play an extremely significant role in world events.

Learn more: Read “Is Germany About to Rise or Fall?”