Why is Germany losing out to China, and can it rebound? | DW Business

The boss of one of the world's biggest industry associations says Germans should work more and retire later to boost the German economy. Speaking on the sidelines of the Hannover Messe industry trade show, Karl Haeusgen tells Daniel Winter of DW Business that the government must do more to help industry stand tall against the challenge posed by China.
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#dwbusiness #germany #china

[@myself3209]

Germany is doing everything to keep up the old big companies and nothing to promote innovation and startup culture.

[@strigoiu13]

startup culture is only possible in a financial wall street type environment. you can not have startups with state funds with 2-3years paperwork before you see any real money as in the EU :)) in 3 years you are easily bought or outperformed by US companies in the field with almost unlimited VC capital available.

[@oh0stv]

Do you mean startups, which are unprofitable the first ten years, just to build up a huge customer base exponentially, and swallow up any competition, only to increase their prices once they hit a critical size?

[@quettagladiator5272]

Why not to keep old big companies? They are functional for centuries and withstood two world wars! Startups should also be encouraged more!

[@larryc1616]

​@@quettagladiator5272Out with the stubborn Old and in with the innovative New.

[@ishotuknok]

Well as a Government I would rather have hundreds of billion dollar valued companies in my country creating seriously high paying jobs in my economy rather than hundreds of declining industries that have been formed a decade ago.

[@mitchl2122]

40 years of deindustrialisation of Europe , export of technologies and manufacturing to low wages countries around the world , not only to China ,all done to increase the profits . Ofc no greed , corruption or incompetence being involved . What can go wrong ?

[@jasonmugridge]

Its fascinating that people are only just waking up to this, the problem is not in China its at home. I'd add that as well as profits it was used even more by governments in the west to export inflation which was used to get rid of our debts.

[@danwelterweight4137]

You like Capitalism. Now deal with it. 😂

[@eblman5218]

Globlists aka WEF are wealthy and powerful, and the people of the nations they "rule" over are poor. "By 2030 you will own nothing and be happy".... (because they will own everything)

[@eblman5218]

@@danwelterweight4137 Its not "capitalism". This is crony globalists aka this is a Fascist structure. Free market capitalism wouldn't pay Governments to make their competition illegal.This is what Lefitsts do. They make your business illegal by bribing politicians, and then they move all production out of the country of origin to make it for less. Prime example of what happened to the Auto manufactures in the US. Did you know that Detroit had more millionaires per/capita than ANY city before or since? All until these Crony Leftist fascists Globalists decided they could get richer by robbing their fellow man.

[@stvdmc2011]

Go open a business not look for profit....see how how long it was last.

[@lwty]

I worked for a German company for several years. I’m 99.99% sure that those proposals will never be carried out. The biggest obstacle in Germany is arrogance. Chinese customers used to regard German products as embodiment of good quality and advanced performance. However, over the years, the quality is not that good and innovation is gone. There is little reason for customers to pay a premium on German products. But widespread arrogance will stall any necessary steps to move forward.

[@baronvonjo1929]

I have never really understood the perception of German quality. Maybe it's cause I was born in 2001, but it was I was always told that Japanese products were far superior if you really wanted to say a product was superior. Frankly every country has hit or misses however. But every thing I know about German engineering and products is that they look and feel nice on surface level. But they aren't long for this world and are very overly complex for no reason and not practical. Even when I study history lots of German stuff breaks boundaries but always has issues later on. Of course not everything but just on average. Unless you're loaded with money a German product is something to be avoided in my age group. Unless the alure of the outer shallow quality is too enticing.

[@lwty]

@@baronvonjo1929 You're quite young. Missed the golden era of German engineering.

[@fatdoi003]

when Mercedes switched the alphabet from suffix to prefix (190E to C200), that's the end of over engineered Mecedes Benz cars....

[@jordycorvers7465]

@@baronvonjo1929 German Quality is surpassed by almost no other country in general. "Germany makes the thing that makes the thing inside the thing" is a common expression here. however, when I buy a german product. I know the materials are safe, the product is inspected is dafe to use and reliable. China nowadays has excellent qualtity in some things. but 90% of stores like aliexpress are really bad quality, bad recourses, polluting, and very possibly dangerous. when I buy a german toy or german electrc heater then I trust my child won't choke, won't touch posining chemicals and will wake up tomorrow without the house having burned down. we are all generalising offcourse, there are products in germany that aren't as good and products in china that are. but in general I trust build quality in Germany way way more then I do that of China right now. I'm not sure how china can get rid of this stigma but it's going to take a lot of effort.

[@CattleFarmer667]

@@peterseth3296 Germany cant survive relying only on selling CNC even if they have monopoly. Anyway Mazak is over-engineered in most application

[@ensiyeitu1012]

Times change guys. Industrialized European countries have been benefiting from impoverished and less industrialized countries. Today, many countries, not only China are rising industrially, supply chains are also changing. German companies might want to innovate and stop playing America's geopolitical games.

[@strigoiu13]

:)) yeah, mate!china trolls spot on as usual :))

[@MetaView7]

@@strigoiu13 scholz led the top CEOs to China.! Twice !

[@Western_Decline]

@@strigoiu13someone tells you to think independently and you call them a China troll. Speaks to how big a vassal state Europe has become.

[@ensiyeitu1012]

@@strigoiu13 trolls? 😹😹😹 You're so deluded dude. You don't want to hear facts because they make you uncomfortable.

[@irose4066]

😂😂😂EU definitely not having capacity to compete against Chinese…..their markets are only based on names of brands….soon it will be changed…..Tesla only competes with Chinese….

[@araara4746]

Fight back? Germany's position is that of a fool who makes bad decisions, then blames others for his stupidity.

[@petergreen5337]

Exactly

[@dr1311]

Somehow true, but the more acute problem is that they continue to make and defend those wrong decisions and hope that it would be all bright and shiny. Pity …

[@araara4746]

@@dr1311 So that's like trying to save a poisoned person with the wrong antidote.

[@user-xp7nk9dw8d]

​@@araara4746Source : bloomberg China is the top contributor to global growth over the next five years, with its share bigger than all Group of Seven countries combined, according to Bloomberg calculations using International Monetary Fund calculations. China is accounting for about 21% of the world's new economic activity from this year through 2029. That compares with 20% for the G-7, and almost double the nearly 12% for the US.

[@martinmatters5806]

Sehr unqualifizierter Kommentar

[@Timeyy]

This is the result of companies only thinking of quick profits instead of planning for the future

[@yo2trader539]

I never knew you guys were competing with China.

[@herrwolf5184]

Everyone is competing with China

[@Momowowo8]

@@herrwolf5184 we only think the US as our competitor sry

[@herrwolf5184]

@@Momowowo8 sure, I mean to say other countries will see you as a competition.

[@eat.melon.qunzhong]

@@Momowowo8 Sorry to hear that, but at least in some areas you can still compete with China. Maybe vehicle industries, you are not too far behind.

[@Momowowo8]

@@herrwolf5184 sure not that we care tho 😅

[@st-ex8506]

As a neighbor (Swiss), I wish the German auto industry all the best, but if they do not make a resolute turn towards electric, autonomous vehicles, they will become obsolete within a very few years! As a senior engineer having "fought" German bureaucracy to get any project done in Germany, I shall go one step beyond: the whole of the German system, of the German business culture and mentality have to reform themselves!

[@simonsays8815]

As a person living between Germany/Switzerland/France, I would like to comment. Please read about the German hydrogen plan and Zero Emission Hydrogen Turbines by Siemens, LNG gas can be mixed with H2 to generate very clean energy (not electricity from coal as it is done so far). They also want to use hydrogen for car fueling, so moving away from electric cars (limited distance and global limitation of Lithium for batteries), H2 is faster to load the car tank and can be stored in a liquid form, moreover, you can have tens of small hydrogen power plants at various locations... Germany/Siemens stays very quiet about it until all EU laws are in place (Green Deal). Even Toyota have the newest car engines designed for hydrogen, so it's just a matter of time but China going full-blown with electric cars may be a mistake and waste of time, especially if the infrastructure in the US/EU is not going to evolve and competition alike Japan and Germany are already so advanced in H2. Autonomous cars are designed around Stuttgart, I have friends who work there. Moreover, you can't have autonomous cars without the newest infrastructure and Germany is now rebuilding many of its motorways across the whole country, they just don't advertise it as loudly as Americans would do.

[@amalia_ag]

If you live in Switzerland, you have one of the best public transportation system in the world. Why do you need autonomous cars? It is extremely expensive for the society for what benefit? Plus, autonomous cars will be highly dependent on data and data managers, and you will not have access to it (Americans will have through their big corporations). Then what? Better enjoy a nice ride by train.

[@st-ex8506]

@@amalia_ag I use our public transportation system extensively (I even have the "GA", the yearly pass). It is indeed excellent. I hardly use my car during week days. But try going skiing for a weekend with four kids by public transport! We also have a country home in France... and the excellent Swiss public transport system stops at the border! Autonomous cars, the way Tesla is developing them, will NOT be dependent on data... at least not more than we already have on our GPS systems...they will truly be autonomous... they already are... although still with human supervision. Autonomous cars will perfectly complement public transport. A family doesn't need to own one. They can hail one for a city ride... or a bigger one for a ski weekend... or an autonomous van to move some furniture... all that for very little money, and decreasing the number of cars by 75% say some experts! Finally, two of my kids are visually challenged. They will never drive, never even ride a bicycle... taking public transport is a daily challenge for them. Autonomous cars will make them much more independent, productive and integrated into the society.

[@amalia_ag]

@@st-ex8506 Thanks for the reply. Hope you can benefit from the technology in the way you describe. My concern is that, to be profitable, automakers and data managers will make the whole system more expensive, not for the benefit of society.

[@st-ex8506]

​@@amalia_ag Quite at the contrary, I reassure you! Autonomous vehicles will be the cheapest mode of transportation, except for walking, bicycles and electric scooters; cheaper than even public transport (unsubsidized)... 1.5-2 € for a 3 km urban ride, for instance. In most large cities, a bus or metro ticket costs that much or more. I know... you can buy a monthly abonnement, that will make public transport cheaper, but it is likely to be subsidized, like it is in my city. Robotaxis (as they are called, at least for the moment) will not compete against established public transports, but will largely replace private cars and regular taxis, Uber services, etc within urban agglomerations. Don't you think that a city with 75% fewer cars... and cars rejecting no noxious exhaust gases, would not be a benefit to society... a huge one? Just imagine: You hail a ride by going on an app on your smartphone. You say where you want to be picked up, and at what time, and where you are going. Just at the right time, an autonomous vehicle shows up. It can be a small vehicle if you said you were alone, or a bigger one if it is the whole family, or even a van if you said that you have bulky stuff to transport. You can take it for 2 km to go to work, or for 10 km to go to a shopping center, or for 200 km to go to your weekend destination. If you are handicapped, you click the corresponding button on the app, and a vehicle correspondingly equipped will show up. That is NOT science fiction... it is only a few years away... possibly starting already next year in some North American and Chinese cities. Actually, it is already a reality (although still at pilot scale) in places like Phoenix or San Francisco. That is why I am worried that Germany... actually the whole of Europe... misses the boat... again! It is going to be as transformative to transports as internet shopping has been to the retail industry. If you are interested by the numbers, I have them. For instance, the cost of the autonomous driving software, including all necessary data (as you seem to believe that data is so expensive) is presently sold by Tesla for $8000, or rented on a monthly basis for $99. That's very little for a taxi (in the present case, without driver) driving typically over 100'000 km per year. Once the system is fully developed, those prices might well double... but will remain a marginal cost, a few cents, per ride.

[@iamwham]

Make good cars that have good infotainment and controls, and are easy to run and maintain. Here in the United States, German cars used to have a good reputation, but Koreans are fast overtaking them and they are well behind the Japanese. I have a VW, runs quite well for now, but my next car is less and less looking like a German make.

[@architkumarsingh4547]

No. Japanese cars are behind than Germans in tech now. In few years German cars have developed technology very well in past few years. Japanese automakers not even making compelling EVs.

[@Do-not-be-sheep]

This is always the go to response for people who do not understand the geopolitics of trade. Companies compete and will quickly identify their weaknesses and change. Companies cannot compete with manufacturers in a hostile nation that heavily subsidizes strategic industries and dumps their overproduction in your domestic market while placing numerous trade barriers to the sale and import of your products. This is china. European politicians keep talking about China as being their largest trading partner. So what when the trade is so imbalanced and not fair

[@xinbozhang7206]

Today's German and Japanese cars are like the Nokia 1100 made of gold casing, while Chinese cars are like the IPHONE 15.

[@Do-not-be-sheep]

@@xinbozhang7206 they have lots of gadgets but are very unreliable cars. But at least when your china made car breaks down you can be entertained

[@xinbozhang7206]

@@Do-not-be-sheep It sounds especially like what Nokia supporters said about Apple when the IPHONE first came out. You should go to the nearest Chinese brand carstore to experience what the future holds.They are much more reliable than your prejudices.

[@user-zz8lb6bd7p]

When you debate "rights" more than "real" issues this is what happens...

[@AB-zl4nh]

One of the major factors the UK was the birthplace of the industrial revolution was because it had stronger economic & political freedoms than mainland Europe & China. Innovation and invention dies when anti-democracy thrives. China's economic growth was partly a result greater socio & economic freedom.

[@happymelon7129]

In the traffic light gov, the other 2 in power installed by the empire , is poisoning Germany.

[@vidzorko4492]

You can debate rights, and economic issues at the same time...

[@eneto7785]

Digital guys can not understand that reality can not be build by big data alone, someone is still needed to built.

[@bobwallace9753]

The digital guys know how to generate the best solutions so that the best stuff can be built.

[@strigoiu13]

@@bobwallace9753 dream on :))

[@Withnail1969]

You can't eat bitcoin.

[@alexcipriani6003]

they outsourced entire industries and they profited from that now they want to make the average person pay for that and build industry on your back; you’ll never retire so it’s a lose-lose situation for the average person

[@wynetsang]

The German fuel for their industry was destroyed in Nord Stream pipeline.

[@AmitSunar_Modi_Ka_Parivar.]

and what Germany did to USA .. "NOTHING"

[@thegreatdane3627]

it should never have been built in the first plaće.

[@Lipi19821]

​@@thegreatdane3627says a guy that have zerro clue how much oil and gas Germany uses per day and that every products price is based alot on oil gas prices.... Nordstream and others were THE reason Germany was what it was...😂😂😂

[@thegreatdane3627]

@@Lipi19821 Nordstream was completed in 2012. Germany was doing just fine before that.

[@petergreen5337]

❤Precisely

[@dinnerwaltz]

China has been Germany's largest global trading partner for 8 consecutive years, but not vice versa.

[@2639theboss]

Thats how China plays it though. Diversify their trade, and control as much of yours as possible.

[@danwelterweight4137]

​@@2639thebosswhat did you want China to do? Buy only German goods and not produce their own?

[@2639theboss]

@@danwelterweight4137 China can do whatever they want. If they choose to pursue an aggressively protectionist trade policy for importing, and expect free trade for exports, more power to them. Germany can choose to wise up like most of the rest of the world has or not.

[@308_Negra_Arroyo_Lane]

China's population is 17 times that of Germany. Duh? Duh? Duh?

[@hzhu12]

@@2639theboss Compared to USA and Israel, China's control of Germany is minimal. Dont worry you can sleep easier at night

[@buixote]

Headline makes no sense. German manufacturers are already moving to low-wage countries... US and China, to name two.

[@captainnemo8072]

China has oil and gas pipelines from Russia. German cost of energy is 3-4 times higher now.

[@thegreatdane3627]

3-4 times higher than what?

[@Starsbbb]

Germany had gas from Russia too.

[@alanhamford2538]

@@thegreatdane3627 Puzzling isn't it.

[@captainnemo8072]

@@thegreatdane3627 Higher than what is China's cost of energy.

[@captainnemo8072]

@@Starsbbb used to* before the Nordstream got blown up and the sanctions

[@aarhusnord]

Germany: bureaucratic, traditional, old-fashioned, non-digitalized, formal structures, too focused on saving, afraid of taking chances. Greetings from Denmark, your Northern neighbours 🇩🇰

[@Booz2010]

Dutchies: hold our HEINEKEN 🍺

[@user2kffs]

Also leftists sabotaging the power grid for production.

[@jonnyhe2559]

German here; I have to say it’s a pretty fair critique of the German system overall ^^

[@mark9294]

That’s a very accurate and astute summary. Greetings from Germany

[@user-ne8yi1io4h]

You summed it all up accurately...add: secrecy, trumping rivals, squeezing suppliers and consultants.

[@randomchannel-px6ho]

Advice for politicians: letting important industries like photovoltaic cell manufacturing get entirely bought out by a foreign entity openly ideologically hostile to the core values of your society really isn't a good idea.

[@asmirann3636]

What are the core values of your society ?? Germany and China, both are authoritarian countries with a history of oppression.

[@summer031977]

Greed will destroy the West.

[@SpruceWood-NEG]

How did you learn that we were hostile towards you? I am a CPC. We have always admired Germany. China's modern military industry learned from Germany.

[@randomchannel-px6ho]

@@SpruceWood-NEG Is that supposed to be comforting lmfao

[@michaellynch1132]

@@SpruceWood-NEG I was under the impression that YT was supposed to be banned in China.

[@user-uo2st6qb8m]

Germany is a puppet, lmao

[@Martin_Priesthood]

🇺🇲

[@addhyanpandey6620]

Firwt thing first, the interviewer did a great job in digging through the issues. Fact of the matter is that EU has lost to Asian countries on work ethics, being digital first and supply chain. They've relied too much for too long on others and now when the world is becoming multi polar, they are atrugggling with adapting to it.

[@drunkensailor112]

This is a german problem. Other eu countries are doing fine.

[@gbrown9694]

Have they not realised that the US are not their friends. They are Deindustrialising themselves. 😂

[@amalia_ag]

Great point...i commented on the same lines.

[@petergreen5337]

❤exactly

[@kangkim150]

Austerity for thee but not for me

[@lvjinbin28]

they don't dare to say it because EU is liberal satellite state for USA

[@bayernvorn]

In my opinion there are no 'friends' behind states. But I'll never forget how the US (and GB) treated us after WW2. They feeded Berlin over a year after the UdSSR Blockade over the air and lost therefore a couple of brave pilots. The federal states that were occupied by the Americans/British still show greater prosperity today. Without Bush Sr. and Gorbachev we would not be reunited. Many of our neighbors would have liked to have prevented this. To this day, these neighbors are afraid of us, which is why they would like to see Germany become economically weak. We have survived so many crises, we will survive this one too, don't worry.

[@perseusarkouda]

His biggest point here I think it's when he said the Germans are relying too much to the government regulations and trying to make competition going slower, instead of being more competitive themselves. I remember a decade ago I had an RC shop and I was choosing suppliers for parts. Chinese products were very competitive and of good quality, while the German products were of the same quality since they were being manufactured in China too. The German products were much more expensive for no apparent reason and I saw mostly Germans using them for the sole reason the Chinese products were either very expensive due to heavy import taxes or even inaccessible to their market. I believe such policies can only work if everyone is following them. The main reason people from the rest of the globe were choosing German products was for their quality and since that quality was gone it was about time for the problems to arise.

[@strigoiu13]

good quality🤣🤣🤣 come on, the reason is just cheap. you have to buy 3-4 chinese ones to match a german one. but even so, 3-4 china ones are still cheaper than a german branded, so you go for the china and if it brakes and it will brake, you just repair it again or buy the newest model that is also sold at a discount. but do the chinese really make any money on their products?! highly doubtful they are!

[@perseusarkouda]

@@strigoiu13 You haven't fully read my comment. I said same quality and same country of manufacturing. China is manufacturing both Chinese and German products. So what's the advantage of German products nowadays?

[@fl00fydragon]

This man is wrong on multiple levels. What he suggests would not revitalize german industry, it would burn it to maximize his immediate profit margins. 1) German industry is defined by it's extremely high qualtiy mechanical engineering. Overworking your labor force and keeping in increasingly older and tired workers will damage that. By damaging that you're then playing on China's home turf: productive capacity, something that no country of europe, or even if the EU federalized into a single country, cannot directly challenge due to raw population size. Thus we must not compete on quantity, we MUST double down on quality and expand it by having the technology nobody else can sell, I'll explain this more on 2. 2) This means that Germany and europe NEED to specialize on cutting edge technology, we NEED to be 1-3 decades ahead of everyone else in key industries if we want to have a strong manufacturing base in the EU. We have a blueprint on how to accomplish this: how the US overtook the USSR. We need massive publicly funded research and development megaprojects in key industries. Those being: green energy, nuclear power, biotechnology, mechanical engineering, advanced manufacturing, aerospace and technologies of human augmentation/life extension. The last category is possibly the most important as it not only has the highest potential to change human civilization and solve problems we once thought unfixable (the economjics of ending most diseases, disabilities and aging would be phenomenal) but it also would create a new industry worth trillions of euros and would be a massive geopolitical asset. If you think it's not tell me, what happens if china comes alond and starts selling tech that could make people live for a few more decades or possibly a century or two with potential for more to be invented in that time? Answer: they take over. We cannot rely on the private sector to innovate on that scale because this kind of R&D is incompatible with market systems, it's too high cost too high risk and economic payoff is too slow for investors who want immediate stock growth. This is why public R&D is necessary in suchg fields. Thus we need the pedal to the metal, more focused and ambitious R&D that's organized on a pan-european scale and guided towards specific, revolutionary goals. 3) This is not a finance problem, in fact loosening finance regulations does not bring back manufacturing jobs, as we have seen in the US. It only increases the ways to manipulate stock markets. 4) Protectionism is a must for now, we need to have strong tariffs for products from outside the EU until the aforementioned industry is online and running. 5) We need a strong consumer base, the post cold war policies of austerity have ruined the purchasing power of our people, this is turn stagnates us as the top claims an ever increasing amount of the money supply into stagnant capital. We NEED higher velocity of money. I believe we need a scaling tax that makes acumulation wealth past the point where wealth cannot improve people's quality of life extremely slow or impossible, similar to the new deal redustriubutive tax system. This is turn would then incentivize the stock owners and the corproations to reinvest their money into wages, new technology, research, refinement, etc. instead of the current status quo of running a bare bones system with little to no improvement over time where minute QOL additions are marketed as "innovation" even if it required little to no R&D to do so. In addition such a tax system would allow to fund the aforementioned research initiatives european countgries NEED to invest in ASAP.

[@Vatoxido]

this

[@gfan003]

Germany was doing alright with cheap Russian gas pumping its' energy sector before Ukraine war, but after US blown up the gas pipes that now Germany need to buy expensive gas from US which will increase prices of everything. Energy is the biggest problem Germany facing now. Moving industrial complex into a country with plenty of cheap energy might help but there are many drawbacks. But Germany is also building fusion reactors, hopefully Germany will manage through.

[@typxxilps]

Very good interview with strong examples and a very broad birds eye view to small details. Great one ! Hats off for Mr. Haeusgen and Winter for this worthwhile exchange.

[@MyLazyAI]

Who cares about buying BMW, when you can buy a Chinese car with better technology for half the price 😂

[@strigoiu13]

chinese is chinese. we just buy it becase you know, cheap, otherwise nothing is like advertised and all the specs are boosted and real life is 70% at best-if you get lucky- from specs. but a chinese car that could jeopardize my life and my family? NEVER!

[@user-xp7nk9dw8d]

​@@strigoiu13 my guy is so jealous. 😂😂😂😂

[@syproful]

Bad example. BMW is doing very well as of late.

[@user-xp7nk9dw8d]

@@syproful byd is doing better

[@aposteriori421]

Germany must always be treated with skepticism

[@Robc2007]

What's the German translation for 'wishful thinking'

[@pockettanker]

I think the guy is hallucinating sometimes... small family business which runs what? LiIon battery assembly line?

[@blackknight4996]

Gardening tools 😂😂😂

[@who2u333]

Exact same talking points I have been hearing in the US since the 1980's. I am surprised German companies are only now looking to the government for handouts of tax cuts and less regulation and blaming it on global competition.

[@geotropa1043]

It has been the same employer's talk in Germany for decades as well, I can assure you. There is nothing new about what this guy is recommending and claiming!

[@kevinl7173]

I don't think China will buy as much as before, somebody has opened the pandora's box already

[@randomguy7175]

Time to manufacture and sell in India.

[@user-xp7nk9dw8d]

​@@randomguy7175 😂😂😂 tried . Didn't work . Too much begging

[@rathranjankumar]

Finally DW started speaking about it.... better late than never! Happy to see this as a first step for improvement :)

[@adolft_official]

KUMAAR, how is the taste of a British Feet?

[@rathranjankumar]

@@adolft_official I dont know man.

[@ronjcharity]

BMW VW Mercedes made in china. They aren’t the same cars…lost their status .

[@almac9203]

The Chinese made cars are for the Chinese market. They don't export them from China

[@zuzanazuscinova5209]

German cars are junk. Sticking with Toyota

[@caglarkaraduman3099]

I suggest 3 points as an economist who currently works basically as a galley slave in Germany and a person who was recently suggested to “clean toilets”: 1) Arrogance costs money and market share, 2) Rule of law and promoting regulations do not necessitate rigidity in business decisions, 3) Ideals and reality must be separated.

[@markfitzpatrick7186]

Under investment in infrastructure, over reliance (and trust) on the US, are major hindrances to Germany. Following neo-liberal policies will bring you to where the US is: inequality, homelessness, designed poverty, prison industry, militarized police force, …

[@V8-friendly]

Maybe by starting to build cars again that last? Leave all that plastic away from under the hood. Success was quality, reliability and longevity. 😮

[@user-bf3em8nw9u]

當德國的瓦斯管 被人炸了以後 卻屁都不敢放一個 就沒人再拿德國當回事了

[@darlayjones669]

In other words, Germany has been so busy following the US missteps and geopolical stupidities, now they're paying the price.

[@JasonLee-pr4sx]

I don't think the guy really realize the seriousness of the issue. German car industry is facing a disaster.

[@daniel51020]

Great interview questions, insight interview.

[@kimchan382]

There is an other Country with 1.4 Billion people out there. Germany need to make joint venture with them like she did it with China four decades ago. This approach will buy Germany an other 30y time to figure out how coldfusions works. This technology will give Germany the cheapest energy which Germany asking for. No need for Putins Gas!

[@Hyper584k]

It’s not Putins gas, and I don’t agree. The Russian gas is sold elsewhere, so they anyways do business. We cannot stop the wind blowing, so why not build the windmills ourselves?

[@manojbarve8134]

Excellent interview!

[@collinparanoid]

This is a very interesting interview

[@oh0stv]

Nice laundry list, i already know which 2 point are going to be implemented...

[@anantmehrotra4868]

What he very rightly said, is we are in living in a comfort zone - and it is better to understand and accept the competition! It's an open market.

[@Billywoo12]

Great interview. The cost difference is the costs of regulation and bureaucracy, waste and poor policy in the EU vs. China; Germany knew this and allowed to happen. The EU manufacturing base is now too integrated into China, it will take 10+ years to reverse if the process starts today.

[@jondonron]

i think the biggest problem is that we don't have a gdp story

[@matthewbaynham6286]

That last point is interesting Tesla were given hundreds of millions of US dollars by the Obama many years ago when Tesla were just starting out, and now Tesla are a world leader. By comparison Sono Motor here in Germany got zero from the national government and 17 thousand Euros from the Bavarian state. It cost Sono Motors 300 million Euros to develop their car and they were just short of the money to go into production, they closed that project and are no longer developing a car. Where as Tesla didn't make a profit for many years and when they did make a profit they made a massive profit and support many thousand jobs in the US and elsewhere. There is a reason startup businesses do better in the US.

[@rajfc]

Fascinating interview. Europe needs more leaders like him

[@user-xp7nk9dw8d]

😂😂😂% of the cars produced are exported. Germany: 75% South Korea: 70% Japan: 50% China: 15% U$ China has overcapacity. Cars per thousand people (from Wiki) USA >900 Australia, France >700 Japan, Germany >600 Korea ~500 Malaysia, Brazil >400 Mexico, Russia >300 Thailand, Turkey ~270 ->> China ~238 U$ China has overcapacity.

[@multiminer3231]

Yeah sure, billions of cooperate profits, economic growth but asking for more working hours, get rid of retirement age (67) & social security and reduce cooperate taxes - which are one of the lowest in the world. On top of it, they demand goverment/ tax founded education for high qualified workers (but they should be cheap and not apply to other countries where they get more salary), infrastructure for cheap ressources, also require R&D paid by the tax payer but keep the profit out of it private. Of course patents, copyright, contracts, etc needs to be protected by a strong reliable law - which you not get in your favourite "cheap" countries like China. Oh, yes of course you like the tax payers to cover your risks of investment as we saw it during Covid or finacial/ Europe crisis, beside HERMES Bürgschaften and similiar goverment backed help.

[@jtang8768]

As a Chinese working in Germany, I'm surprised that so many holidays they have, and they are still asking for 4-day working.

[@syproful]

It's a welfare state. No fighting spirit no more. Destroyed by the left and the woke. Everything just takes so long when something is at hand.

[@lestercrest2624]

the interviewer was excellent

[@aneeshgupta2968]

Asking others to come out of comfort zone as a criticism but when his industry was criticised he only had low quality responses. AI is not for B2B. BMW is more desirable than a Tesla. I mean digitalisation is not only about AI. And the way AI is sold by CEO to their stakeholders, those companies are going to sell faster developed products. (Not necessarily good thing but the market will get flooded and something might stick). How will mittel industries compete with that. How are you going to be more innovative?

[@jonson856]

I am wondering what he means by reducing bureaucracy. Does he want industry to be relieved of their duty to documentation? Does he want a relaxation on regulations and laws? And what kind of laws is he talking about? Laws on environmental protection and safety? Laws on workers protection and safety? Laws on building? Or is he just talking about speeding up the process of public office work so that industry can realize their projects faster? And also, 35h work per week is NOT the regular in Germany. Its 40h. Retirement age in Germany is at 67 years old, its already very high, how much longer should people in Germany work before they can retire?

[@DK-yz9xk]

lmao theres nothing to fight, you people still think that china is beneath yall? actually its the opposite china was the king in the past, now its rising back to its old position again.

[@aceyage]

Many people don’t seem to realize how bad things in China truly are.

[@BrainofGg]

How can you imagine unsuccessful growth just look at the previous season?!

[@Erik-rp1hi]

Germany with its engineering expertise should get into small/modular Nuclear power plant manufacturing.

[@simonsays8815]

After years of using nuclear plants, they found a huge problem with the long-term storage of radioactive wastes. Read about the German hydrogen plan and Zero Emission Hydrogen Turbines by Siemens, LNG gas can be mixed with H2 to generate clean energy. They also want to use hydrogen for car fueling, so moving away from electric cars as H2 is faster to load the car tank and can be stored in a liquid form and you can have tens of small hydrogen power plants at various locations... Germany/Siemens stays very quiet about it until all EU laws are in place, in other cases, countries like Hungary would try to block them from enforcing such technology on the European market, especially since Germany will be a prime beneficiary of such technology and sales (billions of Euros).

[@icu17siberia]

Germany should do that. Stop trying to change Russia, you can't buy there reliability

[@jianyang6281]

why anti-espionage law is a treat to Germany companies? or German really want to do some sneaking espionage things in China?

[@jasperedwards2713]

the answer stop being greedy if things were more affordable we buy german stuff here example a 30 year old kubota tractor cost about 7000 eur a solis from india and china cost 10000 new with more hp

[@PranicEnergy]

The general populace do not see things the way a businessman does. But the businessmen usually have more options.

[@nickleung7066]

i like the last question😊

[@Astrowheat]

The thing is if you promoting yourself as premium or higher-end one, you'd better be sure your products are truly deserve it and reliable.

[@mikewei2619]

German railroad compares to china is next to cars industry? The only german product i buy is in n out burger....

[@anaestereo810]

Not only can fight back, it will.

[@cwaddle]

35 hours of working hrs are reasonable demand. They should focus on productivity

[@tengchuankhoo6585]

Excellent discussion

[@ericzong1189]

that is one nervous "yes". nobody stays at the top forever..this fact is hard to swallow but true nevertheless.

[@vadergrd]

mentality in germany seems to be stuck in the industrialization era ... not digitalization era...

[@DimitriosCharalampidis]

7:05 this turned into stand-up comedy really quickly...

[@SonnyDarvishzadeh]

16:10 that's so correct! You want to be fast, almost any country outside Europe is fast.

[@flemlion13]

Taxing corporate profits has no impact on competitiveness and in fact in a way stimulates investment in the company. And unless there's a worker shortage or other employee market unbalance there's no need to squeeze more working hours/years out of people either. And if there is an unbalance, most of the time it's more efficient to tackle that head on.

[@Rod-bp8ow]

Germany knows Norway, and Norway's standards when it comes to long term environment friendly is Ecologically footed, reliable as that of the Finnish, that also finishes. Congratulations.😊

[@Ciilow24]

Do not give tax cut for the corporate, because they already making more than they should but ask them to make their products locally for them to create jobs

[@mrbinc0]

Companies should stop relying in the government solving their problems. I still haven’t heard what they are doing to diversify their markets, to invest in R&D (instead of paying out dividends!!) etc. Besides still no answer on how it should work out reducing taxes and increasing government spending.

[@veloboy1]

Is there any pension to remain?

[@Hs-dp4tq]

What did Germany expect? Writing has been on the wall for a decade now!

[@balajiselvam]

what about decreasing the income tax and increase the spending?

[@josemarino4270]

The simple answer is no. A little less simple answer is: that taxation and salaries add to the price of products and services making the German product compared to a similar product made in China much more competitive. "German" products are already being made in China and sold worldwide.

[@herman9255]

German economy's bigger problem, Nordstream

[@VsevolodSidorenko]

ruck fussia

[@alanhamford2538]

@@VsevolodSidorenko People like you is why Europe is going down the gurgler.

[@ME-xc1st]

​@@VsevolodSidorenkoruck NATO for not accepting Russia's proposal of not invading Ukraine if they just don't let Ukraine join their anti-Russia alliance

[@SpruceWood-NEG]

You mentioned the key point. Unfortunately, Germany is not a sovereign country.

[@happymelon7129]

You are correct. Why the guest talk so much but don't dare to tell the truth ? Germany lost to China because the "empire" took away its cheap energy. Without energy cheaper/same than China , as foundation , how to compete ? the "empire" is very successful in deindustrialization of Europe

[@OliverNorth9729]

Germany will be fine all these wimps in the comment section worrying about a misinformation video.

[@user-gu7rm3rf8c]

Good idea and his idea is gold from your neighbor Czech Republic.

[@esnezinu_neko8768]

Has anyone seen wealth distribution graphs. Yes- we need longer hours. Right.

[@Bro4dcast]

Closing nukeliar energy is not mentioned.. an the fall of Quality. It easier just blame external factor

[@10babiscar]

Remove the sanctions and save yourselves

[@cicnos13]

More working hours for the individual and less taxes for the corporations . Great

[@manimalworks7424]

Chinese work 60 hours a week, German wants to work 32 hours a week to compete.

[@FatBunny168]

Owning a german car is a pain in the behinds. Need regular pricy maintenance. So much time wasted on it. Nothing beat toyota. I can just drive and get it check up once every blue moon and it still run like a babe

[@theinfralink6598]

With your economic minister what could possibly go wrong?

[@LeePierre]

Dear expert, no need to increase working hours and pension age. Move the masses of people living on social welfare to the job market. This is friggin overdue. I was also quite shocked that education is not on the plan / requests..

[@960john]

Education in Germany is already pretty high.. not a big problem and not something lobbysts usually ask for.

[@LeePierre]

@@960johndunno bout that.. have experience in 4 difference countries with education. German Schools with low equipment, language first with 3rd grade while in Estonia coding starts with grade 1 (just for example).

[@GustavMac]

Germany relied on cheap Russian gas and in nuclear. They deactivated their nuclear energy hub and Nord Stream 2 was blown up. So energy prices increased 45% for the householders. Industries are struggling even more. Green policies are also giving more room to electric cars, which rely on materials controlled 85% by China.

[@user-cz1nh1hv9v]

Short answer is no It no longer able to be competitive in term of cost of doing business, fhe cost went up by 3-4x compare to inflation

[@lepidoptera9337]

Yes, in China it did, but not because of inflation. The GDP per capita in China has risen tenfold over twenty years. That's good for the country, but it means that China is no longer competitive in many low cost goods. Other countries are now cheaper. Germany doesn't make those goods to begin with and therefor doesn't have that problem.

[@matthewlipton2998]

​@@lepidoptera9337 The big problem for Germany is that 30%+ of their automotive export market is in China. Literally twice as big as its American market. Chinese consumers are no longer interested in German cars and it's going to take a massive hit. Numbers have went down this year.

[@lepidoptera9337]

@@matthewlipton2998 Germany is a lot more than its automobile industry. German cars were never popular in the US to begin with. They always sucked. ;-)

[@matthewlipton2998]

@@lepidoptera9337 10% of Germany's entire economy is the automotive industry. Forget America, it sells more cars to China than it does in the entirety of Europe too. About 1 million people are employed in the sector. A lot of manufacturers have been reporting severe losses. It's not hard to build a decent EV so they have been failing to compete.

[@ebenezerolorunfemi8032]

The German business-scape has a very laggard mentality. Everybody takes their time to get important things done and will rather focus on the process than the outcome. Most of the time, before that thing is done, the outcome has been severely depleted. I saw this within one week of being in Germany and was very sure that there was no way a country will maximise potential that way especially in a fast-paced world.

[@Archer-hg9rw]

It’s natural when you’re a rich country that you can’t compete with poor countries on labor intensive industries, and China has both skilled and relatively cheap labor so you can’t stop them from rising up

[@badcop01]

Easy. US took out gas pipeline which increased your input costs tremendously.

[@aceyage]

Lowering corporate tax rate? Higher taxes for them and more support for smaller businesses and startups!

[@givemeabreak8784]

Phasing out nuclear energy is not going to help for sure. They could start making ammunition and fighting gear but needs steel and energy.

[@calc1657]

Both the interviewer and the interviewee were brilliant. That was an informative segment.

[@liang8255]

The real issue is cost, money you ask: Germany can provide good and real good products in machines, cars, etc... They are just too high priced. Not by little, by far too much! intoxicating yourself into higher tech and methods will only push your industry into the niche market and eventually been bought by foreigners like the luxury British car industry.

[@axer7429]

Lower taxes for Businesses? You're already taxed very high as an individual in Germany. Over 40% of your income will be taken from you in a 9 to 5 job. Think about that first before lowering the taxes for big corporations.

[@lepidoptera9337]

Most of that goes towards the social net. You get what you pay for, even if you pay for it with taxes.

[@alko_xo]

Seems like “Whining” should be recognised as an Olympic sport to help Germany win more gold medals at the Olympics.