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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Sharp criticism of a new German strategy for industry

    Rocky
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    • Post n°1

    Sharp criticism of a new German strategy for industry Empty Sharp criticism of a new German strategy for industry

    Post by Rocky Sun 03 Feb 2019, 2:15 am

    Sharp criticism of a new German strategy for industry

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    faces a new industrial strategy for 2030, expected to be announced by German Economy Minister Peter Altmeyer next week, sharp criticism from some economists, industry groups and MPs in parliament and accusations that it gives a large role to the government in shaping the features of the economy.
    The strategy, which leaked to German media on Friday, urges action to support "national champions" and boost corporate competitiveness in nine key technology areas, including the automotive, aviation, space, weapons, raw materials and medical equipment sectors.
    Frankfurter Allgemeine said the strategy says the success of certain companies, including Siemens, Daimler, Volkswagen, BMW and Deutsche Bank, is in Germany's national interest.
    "Companies can not be given virtual guarantees of survival, and the state should not go that long," Lars Field, a leading German economist, told the paper in Saturday's editions.
    Critics have warned that another measure calling for an increase in the share of industry in the economy as a whole to 25 percent from 23.3 percent would be difficult to implement.
    Mikhail Thuira, vice-chairman of the Liberal Democrats' parliamentary group, said in a statement to the newspaper that Altmair's pursuit of protection of major corporations was a scandal and that the government should create better conditions for all companies.
    Wolfgang Steiger, head of the business wing of his conservative party, Altmayer, called on the government to restrain itself and warned that Altmair was positioning itself as "an office of German economic policy."
    Competition expert Gastes Hawkab told the paper that another corner of the strategy, seeking to facilitate major mergers, was "totally wrong ... and would be very devastating." History has shown that large-scale mergers limit innovation and drive prices higher.
    Erik Schweitzer, head of the German Chamber of Commerce and Industry, told Die Welt that he welcomed efforts to support the German industry but said he doubted any moves by the government to identify and shape corporate investments.
    Economist Gabriel Felbarmeyer warned against the protection of major German companies, saying the most important was to promote faster development of business ideas and help them grow.

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