How to break the German malaise
BERLIN — Not so long ago, Germany seemed like it could do no wrong, thanks to its strong economy, excellent infrastructure and stable political system. Yet now it seems as though Germany can do nothing right. With a sluggish economy and crumbling infrastructure, it is falling behind technologically and succumbing to extremist political parties. Five factors explain this deep malaise, and all stem…
BERLIN — Once, Germany appeared invincible, buoyed by a robust economy, top-notch infrastructure, and a stable political landscape. However, times have changed. Now, the nation grapples with a sluggish economy, deteriorating infrastructure, and struggles to keep pace technologically. Moreover, extremist political parties have gained ground. This downward spiral, five experts argue, can be traced back to a series of leadership missteps, all rooted in poor decision-making.
The economic crisis of 2008 saw Germany's recovery depend on political complacency. Chancellor Angela Merkel's prolonged tenure failed to usher in significant social and economic reforms, while her successor, Olaf Scholz, was unable to push through meaningful changes due to a dysfunctional coalition government. The new president, Friedrich Merz, appears to be in an equally unenviable position.
Simultaneously, Germany's export-focused corporations missed out on the vast potential of the European single market. Instead of concentrating on bolstering their European presence, German business and political leaders were lured by the sheer scale of the Chinese export market, neglecting their own economic growth.
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