Rabobank: The Supply-Chain Architecture Is Buckling Globally | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

Rabobank: The Supply-Chain Architecture Is Buckling Globally

he German election so far look like a stalemate, with a long period of wrangling to form a government – all very normal for the EU. However, the majority voted for ‘nothing happens’: multilateralism, rule by phytosanitary standards committees, a mostly balanced budget, and a vast trade surplus. Muddling-through-mercantilism may be welcome in Berlin, but it’s unhealthy for Europe: as one author argues: “…bureaucratic excesses were precisely what Weber theorised and warned against, considering them as corrosive to democracy as fascist tendencies…. Angela Merkel’s legacy is that of a reliable, capable, dutiful ‘civil-servant-in-chief’, not that of an imaginative political leader.” Moreover, Germany is already strategically weaker than pre-Merkel --think Nord Stream 2, US relations, and whatever its China position is-- which will make a continuation of the last 15 years of successful stagnation much harder to sustain going forwards.

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