Good Morning from Germany, where the fertility rate has fallen to 1.32 children per woman, the lowest since 1996. Only 654,241 babies were born in 2025, the fewest in postwar history. Even Lower Saxony, Germany’s most fertile state, slipped below 1.4.
China now manufactures 89% of the world’s solar panels, 70% of the world’s wind turbines, 83% of the world’s batteries, and 75% of the world’s electric vehicles — all at a lower cost than the West.