Germany needs an industrial revival of the sort it experienced in the late nineteenth century, but this will be possible only if the state offers technological backing to German companies. The US government’s successful Defense Advanced Research Projects Agency should serve as a model for Germany and Europe to follow.
MUNICH – The mood in Germany is bleak, and not just because of the country’s current economic slowdown. Long famed for its engineering know-how and high-quality industrial products, the German economy is now in danger of falling behind as software and data become increasingly crucial to future prosperity. And the recent news that US technology company Apple is now worth more than the entire DAX index of 30 leading German companies has no doubt deepened the gloom among business leaders and policymakers. If German firms don’t adapt quickly, some may struggle to survive.
MUNICH – The mood in Germany is bleak, and not just because of the country’s current economic slowdown. Long famed for its engineering know-how and high-quality industrial products, the German economy is now in danger of falling behind as software and data become increasingly crucial to future prosperity. And the recent news that US technology company Apple is now worth more than the entire DAX index of 30 leading German companies has no doubt deepened the gloom among business leaders and policymakers. If German firms don’t adapt quickly, some may struggle to survive.