Germany waltzes into economic decline

It might have Europe’s largest economy, but Germany has a problem. Its economy is in secular decline. The German economy contracted in 2023, and economists project growth of 0.2% in 2024. Through 2029, the German economy is projected to show growth of just 8%, while gross domestic product in the United States should be more than double that rate. 

If the productivity promises of the Artificial Revolution come to pass, U.S. GDP growth could be more than triple German growth. Importantly, Germany is not a leader in the global race for technological supremacy. It is only now trying to create a competitive semiconductor industry.

What went wrong?

Put simply, Germany made many policy mistakes over the course of the past few years. It relied on cheap Russian natural gas to power its energy-intensive industries. That source of energy
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