The sick man of Europe? Germany?
Having been masked for decades by the euro – which, compared to the traditional strength of the Deutsche Mark, made German goods more competitive abroad – hidden flaws are now bursting into the open.
The question is whether the country's economic model can survive and, if not, what that might mean for the eurozone.
Since reunification, Germany has fashioned itself into an open, trade-integrated, export-driven powerhouse.
It sucked in Russian energy to power its factories. These churned out vehicles, machinery and equipment that were then sold to China.
Ben Wright Telegraph 5 July 2022
https://www.telegraph.co.uk/business/2022/07/05/germanys-economic-foundations-collapsing/
Kommentarer