Monday, July 22, 2019
Business

Germany’s sharing economy is catching on

By Manfred Ronzheimer

If you want to build a building, you need construction machinery and industrial cranes. When the work of those excavators and wheel loaders is done and the building is standing erect, the machines are taken back to the depot. In fact, a large portion of building equipment is active on construction sites for only 50 percent of its “lifetime.” In the case of cranes, that number sinks to only 25 …

US Ambassador Richard Grenell’s threats against German companies make waves, but produce little more than petty victories

By Peter H. Koepf

In the dispute over the Nord Stream 2 gas pipeline, German Minister for Economic Affairs and Energy Peter Altmaier is openly seeking a compromise with the United States. The German government will ensure that there is a liquefied natural gas (LNG) terminal in Germany, he said. American LNG – albeit expensive – could then be brought into the country. Europe cannot be “susceptible to blackmail,” Altmaier said on Feb. 13 …

Many Americans abroad face an increased tax burden as a result of President Trump’s tax reform. Dual citizens are renouncing their US nationality at record rates

By Katja Ridderbusch

Ole Wald* has mixed feelings looking back at his years as a United States citizen. “It hurts my heart that I’m no longer an American,” says the 54-year-old Berlin-based co-founder of an industrial real estate development firm. “Being a US citizen has been part of my identity forever.” On the other hand, he’s relieved to be rid of his American passport. “It would have been much more difficult to cut …

The United States is no longer abiding by the rules of international trade. Brussels is eager to use negotiations to defuse the conflict

By Eric Bonse

For Cecilia Malmström, it was an unpleasant yet necessary task.

On Jan. 19, as the Swedish-born European Commissioner for Trade was presenting her draft mandate for new negotiations with the United States in Brussels, she visibly sought to not raise expectations. “This is not a traditional, comprehensive trade agreement,” Malmström explained. She also stated that there would be no revival of the Transatlantic Trade and Investment Partnership (TTIP), that controversial …

Germany wants to quit nuclear energy and coal, and fast

By Heike Holdinghausen

It’s an ambitious goal: By 2022, Germany will close its last nuclear power plant and, only 16 years later, stop burning coal altogether. Too slow or too ambitious? It’s a hot debate in Germany, at the moment. Nevertheless, the federal government plans to follow the recommendations of the so-called Coal Commission, and to codify it in law by May. It will also stipulate which regions and companies directly affected by …

Burning fossil fuels jeopardizes the very livelihoods of vulnerable groups and could result in a massive rise in the world’s already significant number of refugees

Burning fossil fuels jeopardizes the very livelihoods of vulnerable groups and could result in a massive rise in the world’s already significant number of refugees
By Shi Dinghuan, Stephan Kohler and Sergei Shmatko

The focus has shifted in debates over the security of energy supplies. While the secure supply of energy sources (coal, petroleum and natural gas) was once the central theme and will remain necessary for some time, of even greater importance are sustainability and climate compatibility. Headlines touting decisions by the Organization of Petroleum Exporting Countries have been replaced by those citing international climate conferences and their declarations on decarbonizing the …

The VW scandal just might lead to the introduction of a groundbreaking new form of lawsuit in Germany

By Alexander Hagelüken

German CEOs tend to get nervous when confronted with legal problems in the United States. To be sure, class action lawsuits are often associated with major financial costs. This is exactly what Volkswagen found out when the diesel scandal broke. While there is much criticism of class action suits, primarily regarding the large sums involved in litigation, there have been growing calls in Germany for more consumer rights in the …

The president of the United States is squawking about Germany’s trade surplus – and not without reason, yet he fails to grasp reality in Germany and the United States

The president of the United States is squawking about Germany’s trade surplus – and not without reason, yet he fails to grasp reality in Germany and the United States
By Mark Schieritz

For Donald Trump, Germany’s trade surplus is something of a permanent provocation. The American president appears convinced that Germany isn’t playing fair, but rather providing its own industry with competitive advantages. Or, as Trump himself put it in an interview with the German tabloid newspaper Bild: “When you walk down Fifth Avenue, everybody has a Mercedes-Benz parked in front of his house. How many Chevrolets do you see in …

German and US companies are among the most important foreign investors in each other’s markets. A trade war is bad for everyone

By Stormy-Annika Mildner

Sighs of relief resonated throughout the German business community when US President Donald Trump and EU Commission President Jean-Claude Juncker agreed on negotiating a EU-US trade deal in late July. In a joint statement, the two leaders decided to work together towards zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods. They also agreed to launch a close dialogue on standards in order to ease trade. An …

German-American economic relations in troubled waters

By Dieter Kempf

A conversation with Dieter Kempf, President of the Federation of German Industries (BDI), on tariffs, trade balances, the image of German companies in the US and German industry’s contribution to the US economy.

The Federation of German Industries (BDI) is sup­porting Deutschlandjahr USA 2018/2019. What expectations do you have of the campaign?

Dieter Kempf: The goal of Deutschlandjahr is to render Germany and German industry more prominent in the US …