Not yet. But it's something that is likely to happen, unless the prices of energy come down er next year or in 20 24. And until then, german companies will have to compete, even though they have to pay far higher energy prices than companies in other countries. The biggest union, the egimital, has already said that they will accept basically nothing lower than eight % in terms of wage increases. That comes at a very, very difficult time for cow makers, but for basically most businesses in germany.
Luiz Inácio Lula da Silva, a leftist former president, looks well-placed to win a third term. But which Lula would Brazil get—the fiscal conservative or the populist spendthrift? Germany has an earned reputation as an industrial powerhouse, but its dependence on Russian gas and Chinese demand are hobbling it. And why the propaganda-spewing loudspeakers in Vietnam’s capital are firing up again.
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