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☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

☆ German cabinet to pass China strategy on Thursday - government sources
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 12 (Reuters) - The German cabinet is to pass its long-promised China strategy on Thursday, two government sources told Reuters, after Chancellor Olaf Scholz's government last year ordered a review of how Germany interacts with its biggest trade partner. Scholz has repeatedly emphasised "de-risking" Germany's relationship to China, viewed by Berlin as an increasingly assertive competitor and strategic rival, thereby reducing dependencies on the country gradually rather than decoupling from the Chinese market. Among the changes under consideration are export controls, as well as the screening of investments by German companies doing business in China to protect the flow of sensitive technology and know-how. Germany's VDMA engineering industry association released a statement on Wednesday outlining its stance on the government's forthcoming strategy. "There must be no intervention in the export business or isolation from China," said VDMA President Karl Haeusgen.

Persons: Chancellor Olaf Scholz's, Scholz, Karl Haeusgen, Andreas Rinke, Friederike Heine, Miranda Murray, Nick Macfie Organizations: Greens, Thomson Locations: BERLIN, China, Germany, Berlin

☆ German Businesses Bet Big on China, and They’re Starting to Worry
▼ + stars: | 2023-07-06 | by ( Erika Solomon | ) www.nytimes.com time to read: +1 min

The plan was survival: “It was just about grabbing chances,” Mr. Haeusgen said. Seven decades and three generations later the family business, Hawe Hydraulics, ships some 2,500 parts around the globe. Instead of scrambling for sales, though, Mr. Haeusgen must parse the geopolitics of an ever more polarized world. “I sometimes wish I ran a restaurant and didn’t have to care about global politics.”With China and North America as Hawe’s biggest trade partners, Mr. Haeusgen doesn’t have that luxury. As tensions between Beijing and the West rise, Hawe officials are working to hedge the company’s dependence on the huge Chinese market.

Persons: Karl Haeusgen’s, ” Mr, Haeusgen, Biden, Xi, ”, “ Locations: China, North America, Beijing

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