Geoeconomics: Derisking im Umgang mit China reicht nicht mehr
Es geht nicht mehr nur um Perspektiven für Handel und Investitionen, sondern längst um Arbeitsplatzverlust und politische Handlungsfähigkeit. Ein Gastbeitrag.
End of July brought three parallel events that characterized the challenges of the upcoming autumn. Just as Berlin prepared for summer recess, the German automotive industry announced a comprehensive workforce reduction, potentially eliminating up to 100,000 jobs at Volkswagen, 9,000 at Porsche, and 8,000 at BMW. Audi lowered its revenue and earnings expectations, while Mercedes-Benz revised its annual forecast downwards.
These unmistakable signs of deindustrialization illustrate the state of the German economy amid heightened competition with China, which has amassed significant industrial overcapacity and competes with German strengths thanks to its technological catch-up. Chinese companies are now top competitors in Europe and third markets for complex industrial goods such as electric cars, batteries, solar technology, and machinery.
European markets for German products are becoming strained. Not only automotive manufacturers and their suppliers must adapt, but the machinery sector faces immense pressure as well. As thousands of jobs continue to vanish from German industrial regions, the political fallout is significant, and the already fragile federal government faces increased pressure.
Hasty decisions, such as abandoning climate goals, EU criticism, and tensions with European partners, are likely to escalate in a situation that calls for foresight and European cooperation during industrial transformation, scarce resources, and a threatening security landscape.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
