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Why German Industry Is Failing
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Why German Industry Is Failing
Subscribe Germany’s car industry has lost 51,000 jobs in the last year. VW cut 35,000, ThyssenKrupp 11,000, and Bosch nearly 6,000. What’s causing the collapse in German industry? Crushed By Energy Prices German manufacturers are cutting capacity because building things in Germany has become too expensive. One of the biggest culprits is energy costs. German businesses pay an average of 28.5 cents per kilowatt hour for electricity. That’s almos…
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