Germany closing factories at home, opening them in China

Skip to comments.

Posted on 11/27/2024 10:42:42 AM PST by yesthatjallen

Germany’s domestic energy policies and economic environment are driving its biggest industrial players away from home and toward more favorable conditions in China. Escalating energy costs, massive subsidies for renewable energy and stringent regulations have created an environment in Germany that is increasingly hostile to industrial growth.

As a result, many of Germany’s most established companies are downsizing at home, shedding thousands of jobs, while investing heavily in China. This shift underlines the profound impact of current policies on Germany’s industrial landscape, with long-term implications for the local economy and employment.

Asia Times examines here the key factors and the companies that are reshaping their operations abroad.

High energy costs in Germany: The result of ideological policies

Germany’s energy policies have driven industrial electricity prices to levels that are among the highest in the world, second only to the UK. By 2023, the average price for industrial users will have reached almost US$250 per MWh; even this cost level is unsustainable without substantial government subsidies, which have now reached unprecedented levels.

SNIP

(Excerpt) Read more at asiatimes.com ...

Click here: to donate by Credit Card

Or here: to donate by PayPal

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794

Thank you very much and God bless you.

What is Germany going to do with the immigrants they imported to work in their factories?

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

FreeRepublic.com is powered by software copyright 2000-2008 John Robinson