Kaput: The End of the German Miracle

Until recently, Germany appeared to be a paragon of economic and political success. Angela Merkel was widely seen as the true ´leader of the free world´, and Germany´s export-driven economic model seemed to deliver prosperity. But recent events – from Germany´s dependence on Russian gas to its car industry´s delays in the race to electric – have undermined this view. In Kaput, Wolfgang Münchau argues that the weaknesses of Germany´s economy have, in fact, been brewing for decades. The neo-mercantilist policies of the German state, driven by close connections between the country´s industrial and political elite, have left Germany technologically behind over-reliant on authoritarian Russia and China – and with little sign of being able to adapt to the digital realities of the 21st century. It is an essential read for anyone interested in the future of Europe´s biggest economy.