The Deindustrialization Of Germany Will Cripple The EU For A Long Time

Germany is facing major problems in its aging workforce and deindustrialization that will have long-term impacts on the European Union (EU), warns economist Mike Shedlock. Bloomberg reports that decades of flawed energy policies, the demise of combustion-engine cars and a sluggish transition to new technologies pose a fundamental threat to Germany's prosperity. The political class lacks leadership to address the structural issues which threaten competitiveness. While brands such as Porsche and BMW defined the combustion-engine era, Germany’s electric cars have struggled. Demographic shifts have forced companies to cut output, costing the economy as much as $85bn per year.

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