18-October-2024
Economy News
 
Germany must forge new policy to save its industry, says Chancellor Scholz
17-Oct-2024

German Chancellor Olaf Scholz said on Wednesday he would invite the country's top business associations and trade unions to a meeting in October on forging a new policy to save industry in Europe's largest economy. High energy costs, weak global demand, a disruptive shift towards net-zero economies, and growing competition from China are raising existential questions for Germany's export-oriented, industrial economic model, with CEOs clamoring for more government support. Fears of de-industrialization came into focus last month when carmaker Volkswagen announced it was considering for the first time in its history closing factories in Germany.

News Source:- https://www.business-standard.com/world-news/germany-must-forge-new-policy-to-save-its-industry-says-chancellor-scholz-124101601068_1.html