At the beginning of this millennium, the UK was flying high because of the success of the City, the service factor. Germany was in trouble because manufacturing had gone out of fashion and they imposed austerity measures on their population before anyone else in Europe.
When George W Bush lost his temper with Lehman Bros in 2008 and sent the world into recession, banking became a bogey word and the old fashioned making of things came back into fashion, putting Germany back into the black.
That’s how it stands now, the City stumbles from one disgraceful revelation to the next, and the countries that make things are powering ahead. But we live in a cyclical world, banks may start making money again, I have to say may, and selling derivatives may become fashionable again.
It’s a lot cheaper to press a button on a screen than paying robots to make cars, even allowing for obscene bonuses.