Kurt Doonsebury explains how German economics work in his article How To Make America Great Again? Ask Germany! and shows how Germany stays thriving even in turbulent times.
The Mittelstand refers to small and medium-sized enterprises in German-speaking countries with their main sectors in machinery, auto parts, and chemicals. They are typical family owned businesses with strong regional ties, customer focus, and a hatred of debt. These types of enterprises make up 99% of all German firms, hire about 80% of the German workforce, and account for 53% of the total economic output and 37% of overall turnover for German companies, or roughly 2 trillion Euros. And Germany exports more than the US, two-to-one.
In the interview, Kurt Doonsebury goes into the process of how he found a company named Trumpf and how it survived during tough times, unlike the so called President who went bankrupt many times with his businesses. The German company Trumpf is doing well just like the country.Click here for reuse options!
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