The war in Ukraine and its repercussions, compounded by structural problems such as an ageing population and a lack of investment, spell the end of the boom

The change in the geopolitical order, disrupted by the invasion of Ukraine, has exposed the weaknesses of the German economic model. The German model, points out Wolfgang Münchau in one of his analyses for Eurointelligence, hinges on three ingredients: cost competitiveness, technological leadership in its industry and geopolitical stability, and ‘all of them are gone,’ he adds. On the one hand, the cut-off of Russian gas — which accounted for more than 50% of the gas consumed in Germany — has impacted the electro-intensive industry, forcing businesses like the chemical company Lanxess to restructure their business and close plants.

  • library_napper@monyet.cc
    ·
    1 year ago

    The narrative of this article is disgusting. There is a tradeoff between ethical energy sources and profit. This is good news.

    All countries should be transitioning away from carbon energy. That means they can't use as much energy. That means they can't produce as much useless crap. That is good.

    Please stop placing "the economy" over the pressing climate catastrophe. Making ethical decisions requires sacrifices.