GDP is still used as a key measure of a country’s prosperity, but many economists say it fails to capture important aspects of the economy in a world in which digitalization and globalization are on the advance.
Fresh figures suggest that Europe's biggest economy may be heading for a recession, as its growth slowed in the second quarter. Calls for more fiscal stimulus are growing louder, but the government sees no need for it.
Germany's defense minister plans to increase military spending to the NATO target of 2% of gross domestic product. The SPD, Merkel's coalition partners, said they would not allow Trump to dictate military spending.
China doesn't need the former Crown colony quite as much as it did back in 1997 when it switched from British rule. But the Special Administrative Region remains a valuable conduit for Beijing.
The German government is forecasting significantly weaker economic growth this year. The economy minister says the new figures are a "wake up call."
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