Over reliance on motor manufacturing.
In spite of atWat's simplistic view of the world, German labour costs are too high for them to continue making cars.
And the high end luxury models on which they basically rely do not yet have mass markets in the emerging world. I read somewhere that Britain is the largest European importer of BMWs.
If we go down so do they.
And in a recession what will they do with all that plant and machinery?
The clever City bods who lose their jobs are much more adaptable than an auto worker in Germany - so Germany will have much more to do.
In spite of atWat's simplistic view of the world, German labour costs are too high for them to continue making cars.
And the high end luxury models on which they basically rely do not yet have mass markets in the emerging world. I read somewhere that Britain is the largest European importer of BMWs.
If we go down so do they.
And in a recession what will they do with all that plant and machinery?
The clever City bods who lose their jobs are much more adaptable than an auto worker in Germany - so Germany will have much more to do.
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