Despite the war, Olaf Scholz continues to focus on globalization

Bunchancellor Olaf Scholz (SPD) continues to focus on economic globalization despite the war in Ukraine and its consequences. He is "against all those who are now promoting the idea of ​​deglobalization," said Scholz at the traditional employers' day on Tuesday in Berlin. "We won't do that."

The Chancellor advocated further diversification. He explained that there are many influential countries in the South of America, in Africa and especially in Asia, with which cooperation should continue. "Then we will also create the basis for continuing global cooperation in the world economy and for German companies to be able to benefit from it with their skills and expertise," said Scholz. "Be sure, that's the strategy of the federal government." You don't want to limit yourself to yourself, but use the potential of the world together.

Previously had Employer President Rainer Dulger describes deglobalization as one of the main price drivers. "Due to the corona crisis, the Ukraine war and, above all, the uncertain development in China, supply chains are breaking down," said Dulger. "That drives up the costs and that affects Germany particularly." Due to deglobalization, persistently high inflation rates must be expected in the future. In the FAZ interview, Dulger called for setting up a raw materials ministry and not just treating the symptoms of the economic downturn.

BDI President Siegfried Russwurm also expressed deep concern on Tuesday. "We expect that Germany will go into a massive recession," said the industry official at the congress of the publishers' association BDZV in Berlin. It is now a matter of saving energy wherever possible, in order to reduce demand also produce electricity by any means necessary to increase the supply. Immediate decisions and practical steps to expand the supply of electricity as much as possible are key - "through the rapid ramp-up of hard coal and lignite-fired power plants, longer operating times for nuclear power plants and the maximum use of the potential of renewables energies".

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