Until recently, Germany seemed to be going through a second wirtschaftswunder, as the country's mighty industry pumped out capital exports to China, powered by cheap Russian gas. Then everything blew up in the 2020s. Neil and Jonathan talk to Wolfgang Munchau about the wishful thinking, political misjudgments, and structural failings that led Europe's largest economy into the mire.

Produced by Jonathan Ford and Neil Collins.

With Wolfgang Munchau.

Produced and edited by Nick Hilton for Podot.

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