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While technically correct, it is more of a stagnation isn’t it? And if fact most of the economy is growing fine, it is just some energy intensive and highly export oriented industries that do not. Clearly not the best situation to be in, but structural adjustments take time and the previous Merkel government wasted a lot of time doing nothing, so no big surprise.
We’ve tied our entire economy to the car despite warnings about how unsustainable that is long term as far back as the 1990s.
Now the Chinese are building their own cars, stagnating wages make buying a new German car a really stupid decision even for Germans, and the shrinking car industry is dragging everything it’s connected to down with it.While technically correct, it is more of a stagnation isn’t it?
If the economies of Germany’s trading partners and competitors keep growing, the effects of stagnation are not too different from a shrinking economy. It’s something that has to be looked at in relation.
