France Germany; Economy - overview: The French economy is diversified across all sectors. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros during 2016-18, largely in infrastructure, is intended to spur needed private investment. Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. Europe's third biggest economy has suffered years of anemic growth, high unemployment and budget deficits, while neighbors such as Germany … Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong economic growth and falling unemployment. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). 1. Germany plans to replace nuclear power largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, up from 9% in 2000. The government plans to gradually reduce corporate tax rate for businesses from 33.3% to 25% by 2022. note: general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the sub-sectors of central government, state government, local government and social security funds; the series are presented as a percentage of GDP and in millions of euros; GDP used as a denominator is the gross domestic product at current market prices; data expressed in national currency are converted into euro using end-of-year exchange rates provided by the European Central Bank, note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions, note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area, note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders, among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, automobiles, food and beverages, shipbuilding, textiles, machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism, potatoes, wheat, barley, sugar beets, fruit, cabbages; milk products; cattle, pigs, poultry, wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish, motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products, machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages, US 8.8%, France 8.2%, China 6.8%, Netherlands 6.7%, UK 6.6%, Italy 5.1%, Austria 4.9%, Poland 4.7%, Switzerland 4.2%, Germany 14.8%, Spain 7.7%, Italy 7.5%, US 7.2%, Belgium 7%, UK 6.7%, machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products, machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals, Netherlands 13.8%, China 7%, France 6.6%, Belgium 5.9%, Italy 5.4%, Poland 5.4%, Czechia 4.8%, US 4.5%, Austria 4.3%, Switzerland 4.2%, Germany 18.5%, Belgium 10.2%, Netherlands 8.3%, Italy 7.9%, Spain 7.1%, UK 5.3%, US 5.2%, China 5.1%, Household income or consumption by percentage share, Distribution of family income - Gini index, Stock of direct foreign investment - at home, Stock of direct foreign investment - abroad.