Industry president warns against too rough a state economy

Industry president warns against too rough a state economy

Industry president dieter kempf warned against a too rough state economy as a result of the corona crisis.

Kempf said at the opening of the "digital days" of the hannover messe that politics reacted quickly after the outbreak of the crisis to help companies. In the course of the economic recovery, however, there must now be an "orderly withdrawal" of the state from economic life. The president of the federation of german industries emphasized the model of the social market economy.

The background to the statements is also the fact that the state was able to take a stake in a number of other ailing companies in addition to lufthansa. According to kempf, the key is always to link state involvement in individual companies to a clear exit plan. "The growing tendency toward state dirigisme haunts the german economy with grave concern."

Federal economics minister peter altmaier (CDU) said that we must not get into a situation where everyone lies down in the "hangematte" and says that the state will sort it all out. FDP parliamentary group vice-chairman michael theurer said the increasing focus on the state as an entrepreneur and investor was a "farewell" to the social market economy that had made germany strong in terms of economic policy.

Altmaier warned against rolling back globalization as a consequence of the corona crisis. Although dependencies in supply chains had to be reduced. Globalization, however, is the "heart and soul" of the success of the german market economy model. The minister also referred to the need to drive forward future technologies such as hydrogen and artificial intelligence in the face of international competition. This is also a focus of the german EU council presidency.

The hannover messe industrial show, usually held in april at the messegeland, was canceled this year because of the corona crisis. From tuesday to wednesday, a digital format will now take place, with many virtual conferences.

Sap board member thomas saueressig said the corona crisis is accelerating digitization in industry, education and healthcare, for example. Manufacturing and business models had to be adapted to be more "agile. It is crucial to invest in digital education in order to be able to train top professionals. Entrepreneur friedhelm loh pointed out the importance of creating value from data. Data sovereignty is a "must" in international competition.

Germany and france have been driving the european cloud and data infrastructure project gaia-X for some time now. The point is not to be dependent in europe alternativeless on the rough IT-groups from the USA and china.

A major theme in the industry is also environmentally friendly technologies. According to a study, they offer billion-dollar business prospects for machinery and plant manufacturers. Consulting firm boston consulting puts the global market potential at more than 300 billion euros per year over the next three decades. This corresponds to 12 to 15 percent of the current total turnover of the industry and will add up to around 10 billion euros by the year 2050.

The use of state-of-the-art technologies can reduce industrial emissions of co2, which is harmful to the climate, by up to 86 percent from the current level of around 35 gigatons, according to a study published on tuesday on behalf of the german engineering industry association VDMA.

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