Wirtschaftsrat-Chefin Hamker: „Bei Scholz kriege ich eine Panikattacke"

Summary

In a critical discussion with Astrid Hamker, leader of the CDU Economic Council and entrepreneur, the state of German business is scrutinized. Hamker highlights the challenges facing German enterprises, including structural disadvantages like bureaucracy, high energy costs, and a skilled labor shortage. She expresses skepticism about government promises to mitigate these issues, fearing a departure from the principles of social market economy. Hamker emphasizes the need for better policies to maintain Germany's competitiveness, noting a trend of investments moving overseas due to more favorable conditions in countries like the USA. The conversation also touches on the government's understanding of economic policy, suggesting a reading of Ludwig Erhard's 'Wohlstand für alle' ('Prosperity for All') to grasp the essence of successful economic policy.

Takeaways

• 📝 Astrid Hamker, representing over 12,000 medium-sized companies in Germany and the head of the CDU Economic Council, expresses concern over the current challenges facing the German economy.
• 📈 Hamker identifies 'Made in Germany' as historically significant but is worried about its current and future status due to structural disadvantages and economic downturns.
• 🛠 Structural competitive disadvantages in the German economy, such as bureaucracy, high energy costs, and skilled labor shortage, are described as self-inflicted, posing threats to economic growth.
• 🛡 The German Chancellor's promise of a third relief package and a commitment to not leave anyone behind is met with skepticism by Hamker, who views it as unrealistic and a potential threat to the social market economy.
• 🔴 Hamker criticizes the current government's policies, fearing they deviate from the principles of the social market economy and are not conducive to fostering a business-friendly environment.
• 📖 She suggests the Chancellor and the government would benefit from revisiting Ludwig Erhard's principles of prosperity through deregulation and market economy mechanisms.
• 📦 Hamker reports a bleak mood among businesses in the Economic Council due to structural issues and unfavorable investment conditions, leading to investments moving abroad.
• 🔧 High operational costs, especially energy prices and bureaucratic burdens, are highlighted as key factors driving German investments to more favorable locations like the USA.
• 💰 The Inflation Reduction Act in the USA is mentioned as attracting German companies due to lower energy costs and less bureaucracy, contrasting with conditions in Germany and Europe.
• 🗳 Despite challenges, Hamker acknowledges the strength of Germany's 'hidden champions' - niche market leaders capable of weathering economic storms but stresses the need for better political frameworks to ensure a competitive investment environment.

Q & A

Who is Astrid Hamker and what role does she play in the German economy?

Astrid Hamker is an entrepreneur at the Piepenbrock Group and the head of the Economic Council of the CDU (Christian Democratic Union), representing more than 12,000 mid-sized companies in Germany. She is described as a voice of the German economy.

What are the main challenges facing the German economy according to Astrid Hamker?

The German economy faces a 'toxic mixture' of structural competitive disadvantages, including bureaucracy, disproportionately high energy costs, and a shortage of skilled workers, alongside cyclical economic downturns that threaten exports.

Are the structural competitive disadvantages faced by the German economy self-inflicted or natural?

Astrid Hamker indicates that the structural competitive disadvantages are self-inflicted, largely due to bureaucracy, high energy costs, and demographic challenges impacting the workforce.

How does Astrid Hamker react to the Chancellor's promise of a third relief package and the statement 'You never walk alone'?

Astrid Hamker feels threatened by the Chancellor's promise, interpreting it as unrealistic and a contradiction to the principles of the social market economy, which she believes should enable individuals to earn their livelihood and make future provisions independently.

What is Astrid Hamker's view on the German government's understanding and handling of the economic situation?

Hamker expresses concern that the seriousness of the economic challenges is not fully recognized by the German government. She criticizes the government's policies as not supportive of the social market economy and doubts the Chancellor's use of the term 'economic miracle' in relation to current policies.

What impact do current challenges have on investment decisions within the German economy?

Due to unfavorable conditions, including high energy prices and bureaucratic obstacles, many investment decisions are being made in favor of locations outside of Europe, particularly the United States, where conditions are seen as more favorable.

What examples does Astrid Hamker provide to illustrate the burdens on German companies?

Hamker mentions disproportionate energy costs and an extensive bureaucracy, including the Supply Chain Due Diligence Law and other documentation obligations, which detract from companies' core activities and are particularly challenging for the Mittelstand (mid-sized companies).

How many companies represented by the Economic Council are considering relocating abroad, according to Astrid Hamker?

Astrid Hamker does not provide specific numbers on how many of the more than 12,000 companies in the Economic Council are considering relocating abroad but mentions that many are compelled to make investment decisions based on profitability, leading to investments in the US.

What does Astrid Hamker suggest to make Germany and Europe more attractive as investment locations?

Hamker calls for a change in mindset towards trusting the economy to produce the right solutions, reducing regulations, and creating conditions that foster technological innovation and market mechanisms, similar to the environment in the United States.

What is the significance of 'hidden champions' in the context of the German economy?

Despite the challenges, Germany is home to many 'hidden champions' - world market leaders in their respective niches and industries. These companies are well-positioned and capable of weathering tough times, demonstrating the strength of German industry.