BERLIN / LONDON (IT BOLTWISE) – The German economy is facing major challenges. High energy prices and excessive bureaucracy are putting a strain on competitiveness. Minister Reiche is calling for comprehensive reforms to reduce dependencies and open up new markets. The relationship with China and the USA is particularly worrying, as export controls and tariffs put the industry under pressure.
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The German economy is confronted with significant challenges that are affecting its competitiveness. Minister Reiche sharply criticized Germany’s structural problems and emphasized that reforms are urgently needed to reduce dependence on certain markets and open up new opportunities. High energy prices and complex bureaucracy put a strain on the industry and make it difficult to keep up with global competition.
The relationship with China and the USA is particularly the focus of criticism. Beijing’s new export controls on rare earths endanger key industrial sectors in Germany. These raw materials are essential for many high-tech products, and dependence on Chinese supplies represents a significant risk. At the same time, rising tariffs on EU imports in the USA are putting the export-oriented German economy under pressure.
Peter Adrian, President of the German Chamber of Commerce and Industry, supports the calls for reforms. He points out that the German economy has lost performance in recent years, while international competitors are catching up. The EU must once again see itself as a motor for competition and reduce regulatory hurdles in order to relieve companies and make investments easier.
Minister Reiche advocates a comprehensive reform agenda at both national and European levels. It calls for fewer requirements for companies, simpler investment conditions and more courage to open up the economy. Companies should also diversify their supply chains and involve new partner countries such as Vietnam or Mexico more closely in order to avoid one-sided dependencies.
The minister sees the recently approved tax relief measures, known as “investment boosters”, as a first step, but she remains skeptical as to whether these measures are sufficient. Without far-reaching reforms, Germany risks losing its role as an economic power. The coming years will be crucial in ensuring Germany’s competitiveness and mastering the challenges of global markets.
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