Proceedings of The 2nd International Conference on Advanced Research in Business, Management and Economics
The effects of the globalization on the German economy
Assist. D-r Tsvetomir Tsvetkov, Chief Assist. D-r Lyubov Ivanova
This article examines the effects of the globalization on Germany’s economic growth. The various aspects of the globalization and their impact on German economic development are explored. It is concluded that aggregate globalization and its economic aspect do not have a positive effect on Germany’s economic development. On the other hand, the influence of the political and the social globalization, has a positive effect on the economic development of the German economy. Therefore, there is a controversy about the impact of various forms of globalization on Germany’s economic growth. This contradiction shows a process of restructuring, but not of stopping the integration of the German economy into the development of the global economic trends.
Keywords: globalization, economic growth.