After prolonged periods of near negligible borrowing costs, the last six months have seen a role reversal with interest rates rising faster in the West compared to the East. This article tries to contextualize the volte-face from the perspective of the Anglo-Saxon cousins – UK and Germany. Germany, traditionally pro–austerity, has legislated a tax-cut to help tide through the inflation crisis, expected to get worse this winter1 Manufacturing exports to China have been responsible for Germany’s turnaround from the sick man of Europe in the 90s to delivering consistent positive…
