This link should work for only a week...
http://www.bloomberg.com/news/articles/2023-05-25/germany-enters-recession-europe-s-largest-economy-is-breaking-down?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTY4NjU5OTI5MSwiZXhwIjoxNjg3MjA0MDkxLCJhcnRpY2xlSWQiOiJSVjhJSTBUMVVNMFcwMSIsImJjb25uZWN0SWQiOiIyNzZEM0U3OURGMkI0NzA0OUM4RjUyQTNDNzM2RDcxMSJ9._97xwoiMr9itudnOC_2qWiiBBSIsXZW0AZDqasWQQWI
Germany has been Europe’s economic engine for decades, pulling the region through one crisis after another. But that resilience is breaking down, and it spells danger for the whole continent.
Decades of flawed energy policy, the demise of combustion-engine cars and a sluggish transition to new technologies are converging to pose the most fundamental threat to the nation’s prosperity since reunification. But unlike in 1990, the political class lacks the leadership to tackle structural issues gnawing at the heart of the country’s competitiveness. (continued)
...
Germany Has the Worst Outlook in the G-7
Source: IMF
The risk is that the latest numbers aren’t a one-off, but the sign of things to come.
Germany finds itself ill-suited to sustainably serve the energy needs of its industrial base; overly dependent on old-school engineering; and lacking the political and commercial agility to pivot to faster-growing sectors.
...
Patent data shows that Germany’s ability to stay at the forefront is fading. In 2000, the country was among the top three for world-class patents in 43 of 58 key technology categories, but in 2019, it achieved that rank in fewer than half the number of areas, according to a recent study by the Bertelsmann Stiftung.
...
| 