In: Economics
q1. give an introduction and conclusion about
Germany economy from 1980 to 2010
In the decade of 1980s germany was divided in two parts east and west germany, economy of east germany based on soviet model of economy.
"The German economy is self-defined as a" social market economy "to emphasise that the system developed after the Second World War has both a material and a social or human dimension."
As free enterprise is considered to be the primary driving force
for a healthy economy, the word "business" is significant.
In the modern West German economy , the state had only a small role to play, such as defending the economic climate from monopolistic or oligopolistic tendencies.
Conclusion
Reunification of germany in 1990 brings revolutionary changes in
german economy.
In 2010, after the country was reunified two decades ago, Germany
enjoyed its biggest growth spurt, only a year after experiencing
its worst recession since the Second World War.
In recent times Germany is the largest economy of European Union
,and also a ray of hope for free trade in the times of
protectionism.