Summary
It’s known for precision and punctuality but Europe’s engine is slowing down. Germany’s economy relies heavily on selling its products abroad. Famed for luxury cars like Porsche, BMW and Mercedes-Benz, exports are nearly half the German economy. So if countries decide they don’t want to buy, or can’t afford to buy, the things that Germany makes, it’s a problem. And that’s what’s been happening to Germany today. China – the most important market for most German car makers - is slowing down. Much of Europe is struggling and the US is pursuing its own protectionist policies, to get Americans to buy US-made goods.
On top of that, the German car industry is facing tough new EU emissions tests (prompted by the Volkswagen emissions’ scandal of 2015), with crippling penalties if they don’t comply. So, buffeted by these adverse winds in part self-inflicted, in part beyond its control, the German government is being urged to boost its economy at home – by spending more on roads, bridges and broadband networks. But, as Neal Razzell discovers, despite having plenty of cash in the coffers, events in its past means Germany is reluctant to loosen the purse strings.
Picture: German sports fan / Credit: Getty images
Transcript
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| 0:00.0 | Welcome to the inquiry on the BBC World Service. |
| 0:02.6 | I'm Neil Rizel. |
| 0:04.0 | Each week, four expert witnesses answer one question from the news. |
| 0:08.6 | Angela Merkel was high over the Netherlands on her official jet last November |
| 0:16.2 | when an aid came in and said it's important. |
| 0:20.7 | The German Chancellor broke off a chat with reporters and left the room. |
| 0:24.0 | They were bound for the G20 summit in Argentina. |
| 0:27.0 | When Mrs Merkel returned, she told them there was a new destination. |
| 0:31.0 | There was a problem with the plane. They'd have to abort and land back in Germany. |
| 0:46.0 | But the leader of a nation known for precision engineering and punctuality would be late due to a technical fault was, for some, a delicious irony. And it wasn't even the first time. Other German officials have been stranded because of problems with their planes. |
| 0:53.0 | There's worry over the damage being done to the German brand. |
| 0:57.0 | This isn't just Schadenfreude. |
| 1:01.0 | Problems in Germany can affect the rest of us. |
| 1:04.8 | And deep in the financial data that streams endlessly through traders' terminals are troubling |
| 1:09.4 | signs. Warehouses are filling up. |
| 1:13.0 | German companies can't sell all the things they make. |
| 1:16.0 | Something in the economy is not quite ticking right. |
| 1:20.0 | The latest figures suggest it's shrinking. |
| 1:24.0 | So we're asking, is Germany okay? Part 1 |
| 1:35.0 | Foursprong Dues Technik. |
| 1:41.0 | Chief Economists |
| 1:42.0 | Chief Economists We are a bit of the storytellers, and at the same time we also are |
... |
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