Roland Busch, head of Siemens, has called for Germany and Europe to make faster decisions and establish better governmental frameworks. Speaking to the “Weltwirtschaft” newsletter of the “Frankfurter Allgemeine Zeitung” and while chairing the Asien-Pazifik committee of the German economy, Busch emphasized that “we must become faster.”
He cited Japan’s strategy as an example, noting its comprehensive approach featuring 17 technology fields and 62 sub-points. Each point clearly defines the actions needed to mobilize both private and state investments, alongside necessary labor market reforms. Busch praised this plan as strong. While mentioning that Korea adopted a similar approach using its own cabinet to hold frequent meetings, he flatly stated that Germany does not mirror this model.
Specifically, Busch demanded that Germany and Europe undertake labor market reforms, secure affordable energy, reduce regulations, and accelerate decision-making processes. He insisted that without such foundational elements, industrial effort, no matter how intense, will be insufficient.
He stressed that small businesses without a global presence are particularly reliant on structural reforms. Busch commended the Japanese Ministry of Economy, Trade and Industry (METI) for successfully acquiring critical raw materials in collaboration with private companies, a result he wishes to see replicated domestically. However, he cautioned that industrial policy is inherently complex, remarking, “If everything is equally important, then you have no strategy.”
Finally, Busch advocated for increased international cooperation. He noted that the industries in Japan and Korea overlap significantly with those in Germany, and while these companies have previously been competitors, the current global geopolitical climate and the pace of innovation driven by China necessitate a fundamental shift in thinking. He challenged the need to cooperate with former competitors where it is logical and legally permissible, citing joint platforms or shared-development specialized chips as examples. In contrast, he observed that the approach in Germany seems rigidly polarized-either competitive or non-competitive.
