Novara Media Downstream: Is Germany’s Economy Heading for Collapse? w/ Wolfgang Münchau
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Dec 16, 2024 Wolfgang Munchau, author of 'Kaput' and a seasoned columnist, discusses Germany's precarious position just before a general election. He delves into the historical context of German automotive prowess and its decline due to energy dependence on Russia. Munchau reveals the fallout from austerity measures and technological stagnation facing the economy and examines Germany's complex relationships with Russia and China. The rise of far-right politics is also explored, highlighting the socio-economic dynamics steering political change in the nation.
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Germany's Tech Decline
- Germany was once a tech leader but fell behind in digital technologies.
- This is evident in the car industry's struggle with the shift to electric vehicles.
Underestimating EVs
- German car chiefs underestimated electric vehicles, viewing them as niche.
- VW chief Ferdinand Piëch famously said there's "no space for electric cars in my garage."
Software's Importance in EVs
- The core technology of electric cars lies in software, not the engine.
- This shift mirrors the evolution of mobile phones from hardware to software-centric devices.
