The End of the German Miracle: Neomercantilism and the Trap

The article analyzes Germany's current economic situation, arguing that the country is not undergoing a typical recession but is experiencing a structural rupture of its model. Drawing on Wolfgang Münchau's diagnosis, the author points to the "trap of analog perfection"—a situation where historical engineering success became a barrier to digital transformation. The crisis is multi-layered: from the twilight of neomercantilism and trade surpluses, through the failure to build data infrastructure, to geopolitical energy dependence. The text emphasizes that the German export model was designed for a world that no longer exists, and the pursuit of process perfection in analog form prevented adaptation to the new era of digital ecosystems and platforms.