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The de-industrialisation of Germany 🇩🇪- Part 13: An Allianz Trade bankruptcy study shows a sharp increase in German corporate insolvencies in 2H 2023, up 23% YoY. For 2024, bankruptcies are expected to increase further with a forecast of around 20,260 cases, up 9% YoY. Bundesbank report shows economy likely in recession for Q1 2024, citing “industry will likely remain in a weak phase“. EU 🇪🇺 industries are struggling, with industrial output falling by 5.7% in Jan. ’24 and nearly one million manufacturing jobs lost in the past four years. EU-China relations is in a downward spiral as China 🇨🇳 relies less on Western markets for manufacturing and technology goods. Glass manufacturer Ritzenhoff of Hochsauerland declares bankruptcy after 120 years of operation. 205,000 German jobs threatened or lost in 2023 by company insolvencies. Over 330 years after its foundation, the Koblenz Brewery auctions off its inventory after filing for bankruptcy. Kitchen accessories manufacturer M. W... Source: The Paradigm Shift Channel ⏳
