Volkswagen’s woes and Germany’s decline
For the first time ever, German car giant Volkswagen is considering factory closures in its home country. It’s hard to overstate just how gloomy this news feels in Germany. Volkswagen AG is Europe’s largest car manufacturer and helps uphold Germany’s status as a global economic powerhouse. Employees, politicians and company bosses are rightly demanding resolute action to save these jobs.
How to do so is not immediately obvious. Volkswagen’s troubles did not begin yesterday but are the result of a long series of bad decisions — both at the European Union level and in Germany. And these troubles are a stand-in for a larger crisis facing Germany as a whole: the slow death of its industry, which has in turn helped push many voters into the arms of far-right political parties.… Seguir leyendo »