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The Wirtschaftswunder (German: [ˈvɪʁt.ʃaftsˌvʊndɐ] ⓘ, "economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II. The expression referring to this phenomenon was first used by The Times in 1950. [2]
The year 1989 was the last year of the West German economy as a separate and separable institution. From 1990 the positive and negative distortions generated by German reunification set in, and the West German economy began to reorient itself toward economic and political union with what had been East Germany. The economy turned gradually and ...
The transition of West Germany from a debtor to a creditor by the middle of the 1950s had an impact on Germany's economic growth as well. [11] The agreement's outcome can be described as a German economic miracle. Germany achieved all of the above, despite being obligated to pay the total amount of war reparations (with interest) prior to the ...
By the late 1930s, the aims of German trade policy were to use economic and political power to make the countries of Southern Europe and the Balkans dependent on Germany. The German economy would draw its raw materials from that region, and the countries in question would receive German manufactured goods in exchange. [96]
Aenne Burda (28 July 1909 – 3 November 2005), born Anna Magdalene Lemminger, was a German publisher of the Burda Group, a media group based in Offenburg and Munich, Germany. She was one of the symbols of the German economic miracle .
In "Freedom: Memoirs 1954-2021" (published by St. Martin's Press), former German Chancellor Angela Merkel writes about two lives: her early years growing up under a Communist-controlled police ...
He was appointed Federal Minister for Economic Affairs, a position he would hold for the next 14 years; from 1957 to 1963 he was also the vice-chancellor of Germany. Erhard's financial and economic policies soon proved widely popular as the German economy made a miracle recovery to rapid growth and widespread prosperity in the 1950s, overcoming ...
China was Germany’s second-biggest export market as recently as in 2021. The shift is also the result of more fundamental changes in China’s economy, Brzeski said.