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The Intelligence from The Economist

Teutonic plague: is Germany the sick man of Europe?

The Intelligence from The Economist

The Economist

Daily News, Global News, News

4.53.7K Ratings

🗓️ 29 August 2023

⏱️ 25 minutes

🧾️ Download transcript

Summary

Owing to a host of deep-rooted economic and political challenges, it could be the only G7 economy to contract this year. How might it turn the tide? More people want flashy, bigger electric vehicles, but are the added environmental costs counterproductive (10:00)? And examining the decline in Mandarin learning (18:18).


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Transcript

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0:00.0

Hello, and welcome to the Intelligence from the Economist.

0:06.7

In Lagos, I'm Aura Ugumbi.

0:09.1

And in London, I'm Jason Palmer.

0:11.2

Every weekday, we provide a fresh perspective on the events shaping your world.

0:18.1

People really love their big cars.

0:20.6

The loud, flashy trucks and SUVs have become a status symbol of sorts.

0:25.9

Our manufacturers love them too, especially for their healthy profit margins.

0:30.4

But their attempt to replicate this business with electric vehicles comes at a cost.

0:36.8

And the language with the most native speakers is, by a long way, Mandarin.

0:42.2

And for a long while, it was a wildly popular choice for learners outside China.

0:47.1

We ask why amid a wider drop in language interest, so few are choosing it today.

0:55.8

Let's start there.

1:04.0

In the 2010s, Germany was thriving.

1:07.6

An employment miracle, or as the Germans say, a job funder, reached full flour on the

1:13.1

back of a boom in demand from emerging markets.

1:17.4

Germany's economy grew by more than its European rivals, Britain and France, while its

1:21.5

debt to GDP ratio fell below 60%.

1:24.8

Angola Merkel, Chancellor throughout these glory years, was lauded for uniquely grown-up

1:40.6

leadership, and commentators published books with titles such as Why the Germans Do It Better.

1:51.5

Germany's footballers even won the World Cup.

2:01.5

But the 2020s are shaping up to be very different, and not just because the national football team

2:07.2

is fostering.

...

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