The article treats the history of Germany’s Great Inflation from 1914 to 1923. It focusses on explaining the turning points of wholesale price trends. It demonstrates that these were mostly triggered by national and international political decisions immediately impacting the mark exchange...

Germany’s hyperinflation resulted from a confluence of several factors, all of which contributed to a temporary breakdown in state capacity and to unsustainable public sector deficits. Wartime debt deflated by 90% already in 1920. Informal wage indexation and failure to enforce collection of a...

Germany should pay more attention to risks in procurement, manufacturing and sales in China. First, China’s population has been shrinking since 2022 and is rapidly ageing; this will cause its economic strength as well as production and consumption opportuni-ties to decrease. Secondly, the...