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Fourth Industrial Revolution in Germany - Prospects and Challenges for Economic System
Today we observe how almost all developed countries have joined the technological race, creating various platforms for the development of the disruptive technologies that underlie the impending industrial revolution. However, still, the majority of experts disagree in the definitions of what the "fourth industrial revolution" will be like and whether humanity can form a comprehensive strategy for the future of sustainable development and leveling the negative effects that a single revolution could not manage without. This problem is also topical for the FRG, which, despite many competitive advantages, has weak points, in particular, demographic decline, slower productivity growth, bureaucratization of the system, etc. Thus, starting to build the architecture of the future revolution, states, honest companies and scientists will have to do a great job to unify the existing disparate sets of knowledge and ideas about the nature of future changes and form an effective development strategy that meets the challenges of future robotization and detailed economy. Moreover, this is the first predicted revolution, which creates the prerequisites for doubts about the truth of its nature, speculation, and inflation of market bubbles. The purpose of this study is to assess the impact of future structural changes on the economy of the FRG and the effectiveness of measures taken by the country.