Multipolarity America Votes, Europe Decides
Nov 6, 2024
A storm brews at the center of the Global American empire, with Europe facing the brunt of chaos. The German auto industry is rocked by Volkswagen's significant budget overruns and factory closures, leading to extensive layoffs. The European Union grapples with internal turmoil as Von der Leyen adopts a bunker mentality. Meanwhile, Keir Starmer in England puts an end to the Special Relationship, marking a turning point. As America calls the shots, Europe must navigate its uncertain future.
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Volkswagen Factory Closures
- Volkswagen is closing three factories in Germany for the first time since its founding.
- This closure, along with layoffs and pay cuts, is causing strain on the German social partnership model.
Geopolitical Factors and Energy Prices
- The Volkswagen situation is linked to the larger issue of energy prices.
- This is a geopolitical phenomenon with implications for elections.
Volkswagen Stock Losses and Ukraine War
- Volkswagen's largest stock price losses since 2021 occurred around the invasion of Ukraine.
- About half of their total stock losses happened within three weeks of the war.