{"id":6318,"date":"2024-03-04T14:35:22","date_gmt":"2024-03-04T13:35:22","guid":{"rendered":"https:\/\/lecercledeseconomistes.fr\/articles\/%cat-post-theme%\/is-germany-europes-new-weak-link\/"},"modified":"2024-04-02T18:08:02","modified_gmt":"2024-04-02T16:08:02","slug":"is-germany-europes-new-weak-link","status":"publish","type":"blog","link":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/","title":{"rendered":"Is Germany Europe&#8217;s new weak link?"},"content":{"rendered":"\n<div class=\"wp-block-group section-content-layout-without-cover is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns is-not-stacked-on-mobile is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div class=\"block--post-meta\" >\n\n    <ul class=\"block--post-meta-list\">\n\n        \n            <li>\n                <p class=\"style-p-secondary-bold\">date<\/p>\n                <time datetime=\"2024-03-04T14:35:22+01:00\"class=\"style-p-secondary-normal\">4 mars 2024<\/time>\n            <\/li>\n\n            <li>\n                <p class=\"style-p-secondary-bold\">update<\/p>\n                <time datetime=\"2024-04-02T18:08:02+02:00\" class=\"style-p-secondary-normal\">2 avril 2024 \u00e0 18:08<\/time>\n            <\/li>\n\n            \n            <li>\n                <p class=\"style-p-secondary-bold\">author<\/p>\n\n                <div class=\"container__authors\">\n\n                    \n                        <a class=\"style-p-secondary-normal\" href=\"https:\/\/lecercledeseconomistes.fr\/en\/presentation\/members-and-authors\/members\/patrick-artus\/\">Patrick Artus<\/a>\n                     \n                    \n                <\/div>\n            <\/li>\n            \n        \n            \n            \n            \n\n            \n                <li>\n                    <p class=\"style-p-secondary-bold\">reading time<\/p>\n                                        <p class=\"style-p-secondary-normal\">3 minutes<\/p> \n                <\/li>\n\n            \n\n        \n        \n    <\/ul>\n\n    \n        \n        <div class=\"container-post-social-share\">\n\n            \n<div class=\"block--post-social-share\" >\n\n    \n    <ul class=\"container-socials\">\n\n        <li>\n            <a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Fmacroeconomics-public-policy%2Fis-germany-europes-new-weak-link%2F\" title='Partager sur Facebook' target='_blank'>\n                \n                <svg class=\"facebook\" width=\"27\" height=\"26\" viewBox=\"0 0 27 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path class=\"one\" d=\"M25.6539 0.587891H0.814941V25.4269H25.6539V0.587891Z\" stroke=\"#5B5B5B\" stroke-miterlimit=\"10\"\/>\n<path class=\"two\" d=\"M14.272 18.7267V13.6327C14.772 13.6327 15.2328 13.6327 15.6958 13.6267C15.7718 13.6267 15.9031 13.5607 15.9131 13.5077C16.0281 12.8697 16.1249 12.2277 16.2339 11.5437H14.2671C14.2671 11.0247 14.2671 10.5437 14.2671 10.0627C14.2551 9.87274 14.308 9.68435 14.417 9.52832C14.526 9.37229 14.6847 9.25785 14.8672 9.20368C15.0801 9.14115 15.3001 9.10751 15.522 9.10368C15.776 9.08668 16.0332 9.10368 16.2852 9.10368V7.36868C15.8852 7.35068 15.5141 7.33168 15.1401 7.31668C14.8644 7.29425 14.5876 7.28624 14.311 7.29268C13.7675 7.30104 13.2455 7.50737 12.8433 7.87299C12.441 8.23862 12.186 8.73842 12.126 9.27868C12.0574 9.92597 12.0291 10.5769 12.041 11.2277C12.041 11.3277 12.0319 11.4277 12.0259 11.5567H10.1899V13.6347H12.0479V18.7267H14.272Z\" fill=\"#5B5B5B\"\/>\n<\/svg>            <\/a>\n        <\/li>\n        \n\n        <li>\n            <a href=\"https:\/\/twitter.com\/intent\/tweet?text=Is Germany Europe&#8217;s new weak link?&#038;url=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Fmacroeconomics-public-policy%2Fis-germany-europes-new-weak-link%2F&#038;hashtags=cde\" title='Partager sur Twitter' target='_blank'>\n                \n                <svg class=\"twitter\" width=\"26\" height=\"26\" viewBox=\"0 0 26 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<g clip-path=\"url(#clip0_805_2)\">\n  <rect class=\"background\" width=\"100%\" height=\"100%\" fill=\"white\"\/>\n  <path class=\"one\" d=\"M0.5 0H0V25.839H25.839V0H0.5ZM24.839 24.839H1V1H24.839V24.839Z\" fill=\"#5C5B5C\"\/>\n  <path class=\"two\" d=\"M7.035 17.9391C6.863 18.1171 6.693 18.2961 6.5 18.4961C6.792 18.4961 7.05 18.4881 7.308 18.4991C7.445 18.5051 7.534 18.4591 7.624 18.3651C8.934 17.0021 10.25 15.6431 11.559 14.2791C11.649 14.1851 11.68 14.2091 11.745 14.2931C12.799 15.6621 13.856 17.0281 14.909 18.3971C14.965 18.4701 15.023 18.4971 15.116 18.4971C16.2 18.4941 17.285 18.4951 18.369 18.4941C18.41 18.4941 18.455 18.5081 18.5 18.4751C18.491 18.4601 18.484 18.4461 18.475 18.4331C17.967 17.7801 17.459 17.1271 16.95 16.4741C15.857 15.0701 14.764 13.6651 13.669 12.2631C13.615 12.1941 13.608 12.1541 13.676 12.0861C13.953 11.8081 14.221 11.5231 14.493 11.2411C15.534 10.1631 16.576 9.08512 17.617 8.00612C17.771 7.84612 17.924 7.68612 18.099 7.50212C17.814 7.50212 17.56 7.50912 17.308 7.49912C17.177 7.49412 17.091 7.53712 17.004 7.62812C15.749 8.93112 14.49 10.2301 13.235 11.5331C13.168 11.6031 13.146 11.5891 13.095 11.5221C12.077 10.2121 11.057 8.90312 10.04 7.59212C9.986 7.52212 9.93 7.50012 9.844 7.50012C8.777 7.50212 7.71 7.50112 6.643 7.50212C6.603 7.50212 6.557 7.48512 6.517 7.52512C6.53 7.54312 6.542 7.56012 6.554 7.57712C8.082 9.55512 9.609 11.5331 11.139 13.5091C11.198 13.5851 11.209 13.6261 11.133 13.7041C9.764 15.1131 8.399 16.5251 7.034 17.9371L7.035 17.9391ZM8.059 8.30412C8.043 8.28412 8.03 8.26212 8.014 8.24012C8.048 8.19612 8.095 8.21612 8.135 8.21612C8.596 8.21412 9.057 8.21812 9.518 8.21312C9.621 8.21212 9.685 8.24212 9.746 8.32212C10.664 9.50912 11.585 10.6941 12.505 11.8791C13.993 13.7961 15.482 15.7121 16.97 17.6291C16.99 17.6551 17.008 17.6831 17.044 17.7351C16.504 17.7351 15.991 17.7351 15.478 17.7351C15.413 17.7351 15.387 17.6921 15.356 17.6521C14.356 16.3711 13.357 15.0891 12.357 13.8081C10.925 11.9731 9.492 10.1391 8.059 8.30412Z\" fill=\"#5C5B5C\"\/>\n<\/g>\n<\/svg>\n            <\/a>\n        <\/li>\n        \n\n        <li>\n            <a href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https%3A%2F%2Flecercledeseconomistes.fr%2Fen%2Farticles%2Fmacroeconomics-public-policy%2Fis-germany-europes-new-weak-link%2F\" title='Partager sur Linkedin' target='_blank'>\n                \n                <svg class=\"linkedin\" width=\"25\" height=\"26\" viewBox=\"0 0 25 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path class=\"one\" d=\"M24.8649 0.587891H0.0258789V25.4269H24.8649V0.587891Z\" stroke=\"#5B5B5B\" stroke-miterlimit=\"10\"\/>\n<path class=\"two\" d=\"M18.1309 13.5412C18.1539 15.1962 18.144 16.8512 18.144 18.5062C18.1386 18.5827 18.1283 18.6588 18.1138 18.7342C17.4238 18.7342 16.743 18.7342 16.063 18.7342C15.826 18.7342 15.8902 18.5472 15.8892 18.4182C15.8892 17.2602 15.8892 16.1022 15.8892 14.9432C15.8892 14.8222 15.8892 14.7002 15.8892 14.5792C15.8913 14.3853 15.8548 14.1928 15.7817 14.0132C15.7087 13.8336 15.6002 13.6703 15.4634 13.5329C15.3265 13.3955 15.1637 13.2867 14.9844 13.2129C14.805 13.1391 14.6129 13.1018 14.4189 13.1032C14.005 13.0978 13.6058 13.2566 13.3086 13.5448C13.0114 13.833 12.8404 14.2272 12.833 14.6412C12.816 15.8412 12.8332 17.0412 12.8252 18.2482C12.8252 18.7912 12.8952 18.7332 12.3252 18.7362C11.7552 18.7392 11.1838 18.7362 10.5918 18.7362V11.1462H12.8198V12.1112C12.9688 11.9552 13.0519 11.8742 13.1279 11.7882C14.1279 10.6732 17.1092 10.5882 17.9092 12.5482C18.0427 12.863 18.1176 13.1994 18.1309 13.5412Z\" fill=\"#5B5B5B\"\/>\n<path class=\"three\"d=\"M8.09164 7.27812C8.36496 7.27255 8.63415 7.34853 8.86411 7.49635C9.09406 7.64417 9.27472 7.85713 9.38315 8.10808C9.49157 8.35903 9.52247 8.63659 9.4725 8.90535C9.42253 9.17412 9.29376 9.4219 9.10239 9.61711C8.91101 9.81232 8.66601 9.94611 8.39829 10.0014C8.13056 10.0567 7.85251 10.031 7.59946 9.92755C7.34641 9.82413 7.12974 9.64767 6.97739 9.42069C6.82504 9.19371 6.74385 8.92649 6.74399 8.65312C6.73999 8.47373 6.77175 8.29535 6.83774 8.12849C6.90373 7.96163 7.00265 7.80966 7.12827 7.68153C7.25388 7.5534 7.40367 7.4517 7.56918 7.38242C7.7347 7.31314 7.91221 7.27767 8.09164 7.27812Z\" fill=\"#5B5B5B\"\/>\n<path class=\"four\"d=\"M9.22314 11.1509V18.7169H7V11.1509H9.22314Z\" fill=\"#5B5B5B\"\/>\n<\/svg>            <\/a>\n\n        <\/li>\n        \n<\/ul>\n\n  \n    \n    \n<\/div>\n        <\/div>\n\n\n        \n\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p><strong><strong>The contraction in private sector activity in Germany deepened in February. This is another sign of the weaknesses of the German economy, in line with last year&#8217;s recession. Patrick Artus explains why this situation was foreseeable<\/strong><\/strong><\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Germany&#8217;s economic growth was negative in 2023 (GDP shrank by 0.3%) and the German Ministry of Economy forecasts only 0.2% growth in 2024. For comparison, France had 0.9% growth (annual average) in 2023, and the growth forecast for 2024 is between 0.5 and 1%, according to different forecasters.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>German industry explains this decline in attractiveness in 2023: manufacturing output, which accounts for 20% of Gross Domestic Product, fell by 2%, exports by 1.8%, industrial production is 9% below its pre-Covid crisis level.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>On the contrary, services are resilient, particularly information and communication services. Consistently, business investment is growing negatively, but so is household consumption due to their growing pessimism, which has led to a further rise in their savings rate.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">A largely predictable situation<\/h2>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>In reality, this unfavourable situation of the German economy was largely foreseeable. In the early 2000s, Germany opted for a mercantilist model of development, based on the growth of exports and not on the growth of domestic demand. This choice has led to restrictive economic policies (debt brake, limiting the public deficit to 0.35% of GDP, low wages in services, deregulation of the labour market), with a single objective: to improve the cost competitiveness of industry and allow the continuation of strong export growth.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>But this mercantilist model has become ineffective today. On the one hand, the geopolitical crisis (protectionism, barriers to trade in goods, etc.) and China&#8217;s economic difficulties have led to a decline in China&#8217;s imports and Germany&#8217;s exports to China (which fell by 15% in 2023). On the other hand, the turnover of German industrial companies in China is considerable (in total, the Chinese market accounts for 20% of the world sales of German manufacturers), and German companies face strong competition from Chinese companies, for example in electric cars and other capital goods.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>In addition, Germany&#8217;s cost competitiveness deteriorated sharply in 2023. Strikes multiplied, and German companies had to raise wages by 5.5%, while labour productivity fell by 1%. The model of wage moderation to improve competitiveness has therefore come to an end.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Finally, Germany&#8217;s excess savings are massive: Germany&#8217;s current account surplus reached 7% of Gross Domestic Product at the end of 2023. But this excess savings, as the current account figures show, is lent to the Rest of the World, not invested in Germany. In particular, German industrial companies were attracted to the United States with its tax advantages (Inflation Reduction Act), the price of natural gas four times lower in the United States than in Europe. A total of CHF 125 billion in investments by German companies were made abroad.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">An irreversible decline?<\/h3>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Is Germany&#8217;s industrial decline irreversible? Germany has comparative advantages for the production of industrial goods: an industrial culture, a highly developed training of technicians and engineers, the presence of 15,000 medium-sized companies (the Mittelstand) with a culture hostile to relocations. But the challenges are numerous, as we have seen: loss of competitiveness, delay in the development of certain products (electric cars, electric batteries, semiconductors, etc.), an ageing population, and a decline in labour productivity.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>The German government is aware of its handicaps and was preparing a plan to support the modernisation of industry, with more than 60 billion euros. But a ruling by the Constitutional Court in Karlsruhe has banned the use of &#8220;special funds&#8221; that make it possible to circumvent the &#8220;debt brake&#8221; rule limiting the public deficit to 0.35% of GDP.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer is-style-spacer-medium\"><\/div>\n\n\n\n<p>Most German economists are in favor of revising this rule, but more than 60% of Germans support keeping the debt brake on. The outcome of the debate on the debt brake will be central to whether to become optimistic about Germany again. If the effort to modernize companies is not supported by the state, large German companies will remain attracted to the United States and Germany will not become competitive again.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"featured_media":5687,"parent":0,"template":"wp-custom-template-single-post-classic","cat-post-theme":[134],"cat-post-type":[135],"cat-blog-event-media-type-serie":[],"class_list":["post-6318","blog","type-blog","status-publish","has-post-thumbnail","hentry","cat-post-theme-macroeconomics-public-policy","cat-post-type-news"],"acf":{"is_featured_post":false,"display_twitter_hastags":false,"twitter_hastags":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Germany Europe&#039;s new weak link? - Le cercle des \u00e9conomistes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Germany Europe&#039;s new weak link? - Le cercle des \u00e9conomistes\" \/>\n<meta property=\"og:description\" content=\"The contraction in private sector activity in Germany deepened in February. This is another sign of the weaknesses of the German economy, in line with last year&#8217;s recession. Patrick Artus explains why this situation was foreseeable Germany&#8217;s economic growth was negative in 2023 (GDP shrank by 0.3%) and the German Ministry of Economy forecasts only [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/\" \/>\n<meta property=\"og:site_name\" content=\"Le cercle des \u00e9conomistes\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-02T16:08:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/03\/Banniere-Site-Cercle73.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1480\" \/>\n\t<meta property=\"og:image:height\" content=\"335\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Is Germany Europe's new weak link? - Le cercle des \u00e9conomistes","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/","og_locale":"en_US","og_type":"article","og_title":"Is Germany Europe's new weak link? - Le cercle des \u00e9conomistes","og_description":"The contraction in private sector activity in Germany deepened in February. This is another sign of the weaknesses of the German economy, in line with last year&#8217;s recession. Patrick Artus explains why this situation was foreseeable Germany&#8217;s economic growth was negative in 2023 (GDP shrank by 0.3%) and the German Ministry of Economy forecasts only [&hellip;]","og_url":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/","og_site_name":"Le cercle des \u00e9conomistes","article_modified_time":"2024-04-02T16:08:02+00:00","og_image":[{"width":1480,"height":335,"url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/03\/Banniere-Site-Cercle73.png","type":"image\/png"}],"twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/","url":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/","name":"Is Germany Europe's new weak link? - Le cercle des \u00e9conomistes","isPartOf":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/#primaryimage"},"image":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/#primaryimage"},"thumbnailUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/03\/Banniere-Site-Cercle73.png","datePublished":"2024-03-04T13:35:22+00:00","dateModified":"2024-04-02T16:08:02+00:00","breadcrumb":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/#primaryimage","url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/03\/Banniere-Site-Cercle73.png","contentUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2024\/03\/Banniere-Site-Cercle73.png","width":1480,"height":335},{"@type":"BreadcrumbList","@id":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/is-germany-europes-new-weak-link\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lecercledeseconomistes.fr\/en\/home\/"},{"@type":"ListItem","position":2,"name":"Articles","item":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/"},{"@type":"ListItem","position":3,"name":"Macroeconomics &amp; Public Policy","item":"https:\/\/lecercledeseconomistes.fr\/en\/articles\/macroeconomics-public-policy\/"},{"@type":"ListItem","position":4,"name":"Is Germany Europe&rsquo;s new weak link?"}]},{"@type":"WebSite","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#website","url":"https:\/\/lecercledeseconomistes.fr\/en\/","name":"Le cercle des \u00e9conomistes","description":"","publisher":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lecercledeseconomistes.fr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#organization","name":"Le cercle des \u00e9conomistes","url":"https:\/\/lecercledeseconomistes.fr\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lecercledeseconomistes.fr\/en\/#\/schema\/logo\/image\/","url":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2023\/08\/logo.svg","contentUrl":"https:\/\/lecercledeseconomistes.fr\/wp-content\/uploads\/2023\/08\/logo.svg","width":1,"height":1,"caption":"Le cercle des \u00e9conomistes"},"image":{"@id":"https:\/\/lecercledeseconomistes.fr\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/blog\/6318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/types\/blog"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/media\/5687"}],"wp:attachment":[{"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/media?parent=6318"}],"wp:term":[{"taxonomy":"cat-post-theme","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-post-theme?post=6318"},{"taxonomy":"cat-post-type","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-post-type?post=6318"},{"taxonomy":"cat-blog-event-media-type-serie","embeddable":true,"href":"https:\/\/lecercledeseconomistes.fr\/en\/wp-json\/wp\/v2\/cat-blog-event-media-type-serie?post=6318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}