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German economy in crisis: Warnings of deindustrialization
The German economy is in danger: Entrepreneurs warn of deindustrialization and energy costs. How does this affect the economy? Experts and entrepreneurs discuss the consequences. #GermanEconomy #EnergyCrisis #DanielHager
German economy in crisis: Warnings of deindustrialization
The German economy is in a serious crisis, which is characterized by many delayed problems such as the energy transition, the reduction in bureaucracy and the shortage of skilled workers. The Traffic Light Coalition has been criticized by business owners as it struggles to take effective action to improve the situation.
The employers' association Gesamtmetall and the trade union IG Metall are calling for urgent measures to strengthen Germany as a business location. According to them, many companies are tending to decide against investing in Germany, pointing to threatening signs of deindustrialization.
Entrepreneur Daniel Hager warns of the long-term effects of deindustrialization in various industries such as the chemical, steel and automotive industries. He emphasizes that it is becoming increasingly difficult for companies to stay and invest in Germany, which is leading to companies turning away from the country.
The main concerns of the economy are accelerated infrastructure expansion, faster approval procedures and a long-term raw materials strategy. In view of the shortage of skilled workers, the importance of education is emphasized in order to address this shortage and to maintain Germany as an industrial location.
The price development of energy, especially since the outbreak of the war in Ukraine, remains a critical point for the German economy. Daniel Hager criticizes the current government, especially with regard to energy policy. He emphasizes that German policymakers need a clear plan for the provision of affordable, green energy.
The German Chamber of Commerce and Industry (DIHK) joins the call for internationally competitive energy prices. German electricity prices are still high and are significantly higher than those in other countries. The discrepancies in electricity prices further limit the competitiveness of German companies.
Despite skepticism towards the current government, Daniel Hager sees little hope for the traffic light coalition to correct its course. He expressed the expectation of a new government in the future, but also expressed doubts as to whether it would offer a better solution to the economic challenges.