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German Economy
Today Germany is one of the world's most highly developed market economies. It is the world's third largest economy in USD exchange-rate terms, the fifth largest by purchasing power parity (PPP) and the largest economy in Europe.
Recent performance has not been dynamic, however, and the German economy is marked by vulnerability to external shocks, domestic structural problems, and continued difficulties in fueling formerly communist East Germany.
Germans describe their economic system as "social market economy". An extensive array of social services is provided. Although the state intervenes in the economy through the provision of subsidies to selected sectors and the ownership of some segments of the economy, competition and free enterprise are promoted as a matter of government policy.
History of the German Economy
The following articles explain the historic development of the German economy:
German economy in the Middle Ages
German industrial revolution
Re-vitalisation of the German economy after WW2
Social Market Economy in Germany
From economic miracle to re-unification
German re-unification and aftermath
Industrialisation and Bank foundations
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