It is a shame but Ireland has become an expensive country for manufacturing. Germany is an economy that manufacture alot of products, they kept costs down to do so.

Yes, average industrial wage two thirds of what it is in Ireland. Germany’s healthiness was made by industry and unions agreeing to keep wages artificially low and put all profits back into capital. No fun for the workers, but that is what must be done to grow industry.

Bit even with this, Germany is losing the race with China.

I agree, it is getting harder for Germany to compete with China but one advantage for Germany is the quality of the products they produce.

Quality is better, yes, but wages have not risen with the cost of living, so many German buyers who would choose to buy the higher quality and higher cost German products cannot afford to, and choose the other option if cheaper imports. German manufacturers cannot lower prices unless they outsource production. Giz is correct that we cannot compare German and Chinese cultures, but we can compare prices, and people are counting the brown cents these days.

Because of Europe!

Because of China and the other up and coming economies, yes. Not caused in any way buy the Euro crisis, although the Euro-crises may speed things up somewhat. Things will get really scary when the producing countries have developed to a point that they have a big enough middle class to not only be the world’s producers, but also the world’s consumers. Then we’ll be completely irrelevant.

Not hopeless, But Europe and it’s former colonies have had a fair amount of time in the sunshine. The wheel turns. It won’t happen overnight, but the sun is going to set sometime. India was the centre of the world for a while, as was Egypt, Greece and Rome. It’s no cause for despair, but there’s a fair chance that, 100 years from now, the West won’t be ruling the world as it’s done so for the past few centuries.