Putin’s War and the German Economic Model
After the fall of communism, Germany went from being the sick man of Europe to being its leading economic power, largely by harnessing the benefits of global supply chains. But now that a new era of deglobalization is dawning, Germany will have to think carefully about how it should manage its dependence on international trade.
MUNICH – Will Germany’s economic model survive Russian President Vladimir Putin’s war on Ukraine? As I noted in a recent talk at Harvard University, answering that question requires revisiting recent economic history.