However, the history of modernity paints a somewhat different picture when you think of the hyperinflation in Germany and the economic crises in German-speaking countries in the first half of the 20th century. Since the introduction of the euro, however, Germany has been very good at cultivating a kind of neo-mercantilism, with a currency that tends to be undervalued and a low-wage sector that is protected by law, which has virtually outperformed all other Europeans