Is the German miracle coming to an end?
Two decades after East and West Germany reunited, Foreign Policy magazine posits that the German “miracle” has reached its nadir.
“Just as there was no secret to Germany’s economic triumph, there will be no secret to its decline. Wages in the East have almost caught up to those in the West, and eventually the advantage in exports will disappear. The trading relationships in Central and Eastern Europe have been almost entirely exploited, and Vladimir Putin’s Russia is trying hard to pull those regions back into its economic thrall. The deutschmark is now an object of fond nostalgia. Two decades on, the boost from reunification is finally petering out,” writes Daniel Altman.
Business Insider takes an unsual tack on Germany’s economy by asserting that it is a good sign for the global economy if it begins to weaken.