The boss of one of many world’s largest trade associations says Germans ought to work extra and retire later to spice up the German economic system. Talking on the sidelines of the Hannover Messe trade commerce present, Karl Haeusgen tells Daniel Winter of DW Enterprise that the federal government should do extra to assist trade stand tall towards the problem posed by China.
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Companies should stop relying in the government solving their problems. I still haven’t heard what they are doing to diversify their markets, to invest in R&D (instead of paying out dividends!!) etc.
Besides still no answer on how it should work out reducing taxes and increasing government spending.
The thing is if you promoting yourself as premium or higher-end one, you'd better be sure your products are truly deserve it and reliable.
Germany relied on cheap Russian gas and in nuclear.
They deactivated their nuclear energy hub and Nord Stream 2 was blown up.
So energy prices increased 45% for the householders.
Industries are struggling even more.
Green policies are also giving more room to electric cars, which rely on materials controlled 85% by China.
When will Europe stop being a vassal of the US?
Emerging powers like China and India play a "long game" we in the west have inept politicians who cater for the 60 second TikTok generation.
Also, greedy shareholders having willing exported technologies and IP to low wage countries for a quick buck.
I fear that it will only get worse.
Any benefit you got from China will eventually need to pay back, that's the rule you need to know before doing business with Chinese.
So his solution have 2 elements: 1) cut the taxes for the firms… when firms pay less taxes, who covers the rest of the money needed? Workers… so workers needs to pay more taxes instead of companies 2) workers should work more and longer… so his solution is: workers need to work harder for less… increadible…. How come they don’t understand that it’s not about working hard… it’s about working for the right things… while others invested billions on AI, Germany invested billions on regulating the use of AI. While others invested billions to colllect and use data, Germany invested billions on how to stop data collection. Innovation is the only way to stay relevant and Germany still don’t get it
Only viable solution for Germany is look at countries like India and build a supply chain from India. India can never become an autocratic communist regime so it can provide Germany Industries competitively sourced supply chains and in next two decades it could be largest buyers of German cars.
What did Germany expect? Writing has been on the wall for a decade now!
Germany will survive – Japan will survive, i'm 100%. If Germany falls there's no european country that can fulfill the GAP – so the only alternative is that EU will bow to ASIA and i doubt this will happen.
Same for Japan, if Japanese industries fall who will fill the gap?
The only fear i have is USA, not china, bc the US has historically mining the EU to serve them.
What he very rightly said, is we are in living in a comfort zone – and it is better to understand and accept the competition! It's an open market.
The German business-scape has a very laggard mentality. Everybody takes their time to get important things done and will rather focus on the process than the outcome. Most of the time, before that thing is done, the outcome has been severely depleted. I saw this within one week of being in Germany and was very sure that there was no way a country will maximise potential that way especially in a fast-paced world.
i think the biggest problem is that we don't have a gdp story
Germans want to work 32 hours and compete with Chinese that work 72 hours under their 996 schedule
German tries to compete with china is mission impossible. The price of oil and gas in german is about 3x of china. The cost of labor is about 5 times of china. The are no competition at all
fighting back by banning is cheating
Short answer is NO
They cant its far too late to bounce back. They had that chance 10 years ago.
The germans might come back after a big economical crackdown but not befir that.
energy cost and innovation, sw implementation around machines
Outlaw Temu and the economy revounds globally everywhere.
What profits have these companies have in the last years?
Surely Germany will rebound, once current government is gone! Germany is still one of the largest economies by GDP. Now imagine lower taxes, intelligent tax spending, stop of illegal migration and installation of a new smart government, Germany could be on top
German industry is heading to its ultimate death, the Russian gas is already cut by US/NATO war attacks, making the Germans lose competitiveness with low energy costs, sooner or later, the UK/US consensus will finally take Germany down from Global trade in order to pursue its economic wars with China.
We imported so many engineers, doctors and rocket scientists from the Middle East, how is that possible?
Free Philippines from China.
This Guy is king of complain and excuse. Chinese market is a relative fair market for competition. Where Tesla is taking advantage and selling huge volume, same time lots of Chinese Gov. owned Car makers are not able to survive. The real issue for German Car makers is: Winner out of Chinese market will be super strong in sense of product value and price. German EV will not be able to compete in any market if they are not be able to win or compete in China. Btw, VW BMW and Mercedes are under the same condition to access Chinese labor and Supply Chain for so many years. are these companies ready for future competition(digital electric AI )?