Key industry under pressure: German car manufacturers have to master the transition to electromobility.
Image: EPA
The high energy prices, the politically forced switch to electromobility: business representatives are warning of deindustrialization in Germany. What do the numbers say?
NAfter much drumming, the German economy has achieved success. After Finance Minister Christian Lindner (FDP), Economics Minister Robert Habeck (Greens) has now openly stated that the German location has a problem and no longer seems inviting to many companies, especially from industry. Their proposed solutions are still far apart, but at least the two ministers have come closer to the diagnosis.
High energy prices in particular are putting a strain on important areas of industry such as chemicals, whose production fell last year to its lowest level since 1995. At the same time, the politically enforced switch from combustion engines to electric motors in Europe is devaluing competitive advantages that German automobile manufacturers had developed for decades at record speed. There is concern that Germany will lose an important part of its industrial base. The buzzword under which the discussion is taking place is deindustrialization. Hardly a week goes by without business representatives warning about it.
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