As German industry declines, the Ruhr gives hope
The resilience of the old steelmaking heartland is a model for the future
Germany is wilting. Last year its economy shrank by 0.3%, the worst result in the G7 group of rich countries. Deutsche Bank, the country’s biggest, reckons industrial output has sunk by 9% since 2018 and will fall another 2.5% this year. The talk in boardrooms is of creeping de-industrialisation as high domestic costs—especially for energy—push firms to relocate.
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This article appeared in the Europe section of the print edition under the headline “Back from the slagheap”
Europe February 17th 2024
- The EU’s covid-19 recovery fund has worked, but not as intended
- After Russia’s invasion the people of Bessarabia switched sides
- As Donald Trump threatens NATO, the Baltic states stiffen their defences
- As German industry declines, the Ruhr gives hope
- Europe decides it doesn’t like lab-grown meat before it’s tried it
- How not to botch the upcoming EU leadership reshuffle
From the February 17th 2024 edition
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Marine Le Pen spooks the bond markets
She threatens to bring down the French government, but also faces a possible ban from politics
The maths of Europe’s military black hole
It needs to spend to defend, but voters may balk
Ukraine’s warriors brace for a Kremlin surge in the south
Vladimir Putin’s war machine is pushing harder and crushing Ukrainian morale
Vladimir Putin fires a new missile to amplify his nuclear threats
The attack on Ukraine is part of a new era of missile warfare
A rise in antisemitism puts Europe’s liberal values to the test
The return of Europe’s oldest scourge
Once dominant, Germany is now desperate
As an election looms its business model is breaking down