What economic problems await Germany’s next Chancellor?
What economic problems await Germany in the coming years? The following come to mind: Population ageing that is not offset by faster productivity gains, leading to a problem of growth and competitiveness if wages rise faster; Declining cost competitiveness relative to other European countries and a further deterioration of the education system; The energy transition, in a country that uses a lot of fossil fuels and where the automotive sector forms a larger share of the economy; Both income and wealth inequality, due in particular to low wages in services and sharply rising real estate prices; The fiscal rules, which are strict but probably beyond their use-by date in the new context.