Germany: dual braking, cyclical and structural

As was the case twenty-five years ago, the German economy is currently chronically underperforming its neighbours, who are themselves not exactly in the rudest of economic health. The risk of short-term recession has become very high, and this is no longer a matter of debate. It is also clear that the 'model' that was so successful in the 2000s and 2010s through increasing integration in global trade has reached its limits as globalisation readjusts. Adapting this model requires ...