Published 19 December 2022 at 14.39
Economics. Germany is heading towards a tipping point in terms of attractiveness as a place to do business, according to Nikolas Stihl, chairman of tool company Stihl AG. Now the country is deindustrializing, he tells Welt.
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To help the industry, too little has been invested in Germany in recent decades and too much has been spent on consumption, according to Nikolas Stihl.
– And we are now feeling the consequences, he says to Welt.
Stihl, whose company is best known for its chainsaws, says that the German industry has been very resilient, but that it is getting harder every year.
Germany has always been a relatively expensive place to conduct manufacturing, but so far Stihl has managed. However, developments in the areas of bureaucracy, cost burden and the lack of infrastructureinvestments that the company needs have meant that the conditions for operations in the country deteriorate every year.
It is not only Stihl that warns of a future of deindustrialization for Germany .
The CEO of ArcelorMittal Germany, Reiner Blaschek, tells Welt that Germany faces an uncertain future and that production is no longer competitive in the country. He calls for quick political intervention and competitive energy prices for industry.