Economy of Germany
Germany is one of the world's most highly developed market economies. It is the world's third largest economy in USD exchange-rate terms, the fifth largest by purchasing power parity (PPP), and the largest economy in Europe. Although recent performance has been dynamic, due to a strong world economy, the German economy is marked by domestic structural problems, and continued difficulties in fuelling formerly communist East Germany. Competition and free enterprise are promoted as a matter of government policy. However, the state intervenes in the economy through the provision of subsidies to selected sectors and the partial ownership of enterprises in sectors of strategic importance .
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