Germany faces a looming threat of deindustrialisation
Crunch time for a business model built on Russian gas and Chinese demand
In a book from 1945 entitled “Germany Is Our Problem”, Henry Morgenthau, America’s treasury secretary, presented a proposal to strip post-war Germany of its industry and turn it into an agricultural economy. Though his radical proposal had some influence on Allied plans for the occupation of Germany after Hitler’s defeat, it was never implemented.
This article appeared in the Business section of the print edition under the headline “Morgenthau’s revenge”
From the September 17th 2022 edition
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