Germany is not preparing for the future

Germany will face a number of problems: Contraction in old industries (automotive, chemicals, other intermediate goods, capital goods, etc.); Need to end the use of coal ; Marked deterioration in cost competitiveness, on top of the weakening of global trade. Germany will therefore need massive public and private investments : construction of the industries of the future (equipment for renewable energies, electric batteries, internet services, etc.), renewable electricity. But instead of making these investments, Germany is generating a massive savings surplus that is mainly being lent to the US Treasury: instead of preparing for the future, it is financing Donald Trump’s deficits and hoarding. It has replaced China in the role of the United States’ creditor.