"... Germany is rightly known for Porsches and BMWs that are coveted by affluent buyers around the world, as well as much of the machinery that keeps factories running from China to Michigan. Alongside the export juggernaut, though, is another, creakier economy that operates well below its potential and holds back not only Germany but the rest of Europe, some economists say. This economy is overregulated, intended to insulate insiders from competition and deeply resistant to change. Though Germany’s chancellor, Angela Merkel, often harangues countries like Spain, Italy and Greece to become more competitive, the German economy features some of the same flaws that they do, including protected professions and zoning laws that favor existing businesses over new ones. “Germany has what I would call a dual economy,” said Andreas Wörgötter, a senior economist at the Organization for Economic Cooperation and Development in Paris. “On one side, we have this very dynamic, innovative, competitive and refreshingly unsubsidized export sector,” he said. “On the other side, there is a much less glamorous services sector which depends on barriers to entry, subsidies and not developing and reaching out for new activities.”
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