Germany is unusual because they are enormous net exporters. Not every country can be a net exporter. When you have an aging population the ratio of working peo

Germany is unusual because they are enormous net exporters. Not every country can be a net exporter. When you have an aging population the ratio of working people to elderly people will shift radically. Healthcare expenses ratchet up every year, crowding out other government expenditures. It's not a recipe for a healthy economy. And it's not easy to invest in the future when older people outnumber younger people and are more likely to vote and lobby for their (class) interest. You need a lot of innovation to compensate for these secular headwinds.