- Then some more diverse set of so-called "hidden champions" (German name for world-leaders of some very special physical engineering products) which will sooner or later be fed to some US or Chinese companies.
- Some heavy industry which is currently leaving the country because of shenanigans in energy politics over the last two decades.
- Some of the dinosaurs the sibling comment already stated
- and finally lots of service businesses driven by MBAs and Legals who profit from the jungle German tax and law system is. They have zero interest in change and have been squeezing out the middle class in last 2-3 decades.
Germany is in recession right now as the only of the G7 countries. This is because the cheap Russian energy cannot cover the structural problems anymore but business, taxation and bureaucratic mentality is putting the whole country down. Can't recommend anymore.
>And given the Germany is the economic powerhouse of the EU, their bureaucracy doesn't seem to be hurting them much.
Germany is the "powerhouse of Europe", not because of start-ups and business friendly environment, but because of giant 100-year old dinosaurs like Siemens, Bosch, Daimler, VW, etc, who were innovative in the post-WW2 times and can afford all the lawyers and tax consultants the state could ever require them.
But with US and China hot on their heels on areas that the German dinosaurs were champions like motor vehicles, and dominating all things internet related, they might not be a powerhouse 100 years from now if they don't improve and modernize their mentality and keep leaving bureaucracy and innovation to the retired boomers who grew up with "world powerhouse Germany".
So that's not true.
It completely depends on the European country.
And given the Germany is the economic powerhouse of the EU, their bureaucracy doesn't seem to be hurting them much.