German bosses are feeling downcast
“We are at a dangerous point,” worries Arndt Kirchhoff, boss of the employers’ association in North Rhine-Westphalia and one of three brothers who run Kirchhoff, a maker of car components. Germany recently entered a technical recession. Many companies are choosing to invest abroad rather than domestically. Chinese consumers are importing fewer goods after the lifting of pandemic restrictions than German manufacturers had anticipated. Additionally, Ukraine’s counter-offensive against Russian invaders is causing uncertainty in Germany’s vicinity.
Mr. Stihl’s company has no plans to relocate production elsewhere. However, he hopes that the decisions made by BioNTech and Viessmann will serve as a wake-up call for the government. He believes that these moves would not have occurred if Germany were as business-friendly as it once was. ■
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2023-06-08 08:48:58
Source from www.economist.com
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