Labour Leader Admires Germany's Capitalism

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German economic miracle

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Sir Keir Starmer

Guardian

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The German problem? It’s an analogue country in a digital world | Larry Elliott

Summary

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75% Informative

Since 2018 , Germany has been the slowest-growing economy in the G7 expanding by 0.4% a year on average.

Germany is no longer an appropriate role model for the UK (or indeed, any other country) It is a country where the threat to democracy posed by extremist parties is the result of economic failure.

Germany was the dominant economic power in the 19th century on the back of the technologies of the first Industrial Revolution .

The big car companies were woefully shortsighted when meeting the existential threat posed by low-cost Chinese models.

The US is the prime example of a country that has moved with the times and has been able to adapt its industrial structure to changing circumstances.

But so, too, does Germany , a country long overdue the creative destruction that would allow new ideas and new products to flourish.

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semi-formal

Language

English

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