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German economy hit by closure of Hormuz Strait

The German economy is in crisis mode: corporate investment is shrinking, while the state is spending ever-increasing amounts of money.

Dieter Reinisch
Press TV, Berlin

The German economy is in crisis mode: corporate investment is shrinking, while the state is spending ever-increasing amounts of money.

It has thus become the dominant driver of economic activity. Analysts warn that many of Germany's traditional companies and manufacturers are on the brink of collapse.

Our correspondent, Dieter Reinisch, reports from Berlin.