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Instagraph

September 23, 2024

Fallen angel

Germany has de facto lost its status as leading industrial power: industrial production in real terms is now 26% below the long term trend. Overreliance on cheap Russian gas, a premature shift to green energy with the exit from nuclear, relocation of industrial production to Eastern Europe, overreliance on Chinese exports, lack of innovation, excessive admin burden are to be blamed as main factors. While Europeans may lament past mistakes and debate the rise of the far right, the true battleground is economic. Solutions must be identified and implemented immediately. Fortunately, unlike in France, excessive sovereign debt is not a pressing issue. Image preview