The German Economy is On the Brink - Unherd, July 7, 2022

The economist Herbert Stein once wrote that if something cannot go on forever, it will stop. It seems like the German — and with it probably the European — economy is reaching that point. Most of Europe’s 100 largest companies were founded in the 1980s or before, which means that the old continent has entirely slept through the digital revolution of the 1990s and 2000s. There is no European counterpart to American corporations like Facebook, Amazon, E-Bay or China’s Alibaba or WeChat.

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