Veronika Grimm, a prominent economist, underscored the economic strategy of Chancellor Friedrich Merz (CDU) in the debate over raising European competitiveness. Addressing the “Rheinische Post” on Thursday at a separate EU summit, she said France is pushing for more protectionism, whereas Germany-“rightly” she added-should pursue deregulation and other measures that stimulate growth in emerging technology sectors.
Grimm argued that trying to counter Chinese competition with subsidies and tariffs is ineffective. She noted that Chinese suppliers now match Germany and the rest of Europe in producing goods that German companies have traditionally exported.
Instead, she called for creating conditions that allow German innovation to translate into added value and growth. “We must excel in new technology fields and assume technological leadership” she said. She outlined what she sees as Europe’s new economic and growth model: less or more efficient regulation, stronger research and excellence, and a renewed focus on education systems that have long been neglected.
During the same period, German leaders will be among the heads of state and government from all 27 EU member states gathering in Belgium on Thursday, aiming to reach a consensus on how Europe can maintain its competitiveness in the global arena.
