Friday, November 15, 2024

Germany

China is doing to the German auto industry what they previously did to the US steel industry. They are dumping cheap EV's on the German market. The US will have to come to the rescue of the Germans by ending the war in Ukraine. Prior to the war Germany was getting their natural gas from Russia but that stopped when the war started. The gas they are now importing, mostly from the US, cost four times more and this is having a devastating effect on German industry. Germany chemical giant BASF is closing 11 factories and transferring production to China and the US. Volkswagen, Germany's largest employer is closing 3 of its ten plants because the cost of energy is too high. In the years leading up to the war Germany closed down its nuclear plants and must now rely on old coal plants to keep the country from going under. If the war ends then natural gas from Russia will once again be possible and the disaster can be avoided. The US must act quickly to end the war, not just for the sake of Germany's economy but for the rest of the world.

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