cross-posted from: https://lemmy.ml/post/20506285
German GDP is still growing every year, just a bit slower. Stuff like this happens in capitalism. It doesn’t have much effect on other companies.
The dependence of the machinery sector on car production and the consequence of economic simplification due to EV production being simpler was a problem known since at least the 1990s, if not since the 1880s, but little was done during the Merkel governments to diversify beyond R&D, which products were simply exported or were directed towards car production productivity (car production per worker or material).
Quickly give these corpo parasites some state aid!!!
They need more than the shiti organics anyway
While the article is right in that the German economy sucks, a lot of its reasoning is bullshit.
For example, Tesla was definitely a rude awakening, but stock valuation means jack shit with the NYSE running on pure price speculation.
Also yeah they are closing factories in Germany, but they sure as hell are keeping those in Eastern Europe. What did they think would happen when they got built, and they got built bigger than those in Germany?
Point is, this downturn is not because a lack of innovation or whatever, but just the neolib policies changing tack as they were always supposed to in a downturn.