levels, and the German unemployment rate reached record levels: 12.6% (according to national definition) as of March 2, 2005, the highest rate since World War II. The failure of the German model to maintain standards of high performance has led experts to speculate about its demise, despite having been adopted successfully in other countries' corporations since its peak. Others see the relative decline as an unavoidable consequence of integrating the much less advanced GDR economy and 17 million new citizens, which necessitated a transfer of over 1.3 trillion Euros from west to east as of 2009. Much of the political discourse regarding reforms in recent years revolved around the question of how to modify the German model (and the political conditions forming its framework) to sustain it in a globalised economy. Ex-Chancellor Gerhard Schröder's reforms, called "Agenda 2010", made some steps towards such a goal, but also brought with them much controversy. Nonetheless, after years of 'painful' reforms, the German economy seems to have got back on track. The wage share, however, measured as compensation of employees as percentage of gross national income, was declining in Germany since the 1980s. Unemployment has fallen below 10% (according to national definition) for the first time in years and economic growth reached 2.7% in 2006. In June 2016, the unemployment rate was reported as 5.9% by the German Federal Employment Agency (Bundesagentur für Arbeit). Whether this is an ongoing development is however a matter of continuing debate, as are further reforms. Counter-argument: Rise of the German model As of 2009 and the recent worldwide economic downturn, some analysts have speculated that the German model of social capitalism is resurgent and is the most responsible economic system that still ensures the survival of the free market. With recent economic schemes and company abuses, such as in the Bernard Madoff scandal, the Enron scandal, and the financial crisis of 2007–2010, the German model of a rigidly structured and regulated economy has become more attractive. From 2003 to 2008, Germany (a nation with only 80 million inhabitants) was the world's biggest exporter. In 2009, China (1.3 billion inhabitants) overtook Germany in exports. One of the reasons for this are the Hidden Champions as a result of the German Model. Germany's Hartz Reforms and a growing low-wage sector are believed to have weakened the core setup of this German Model. See also Economy of Germany Ordoliberalism Social