For Germany, all hangs on innovation
Voters in Germany鈥檚 election on Sunday were very excited to cast ballots. Turnout was an astounding 82.5%, the highest in more than three decades. A big reason was that Europe鈥檚 largest economy has experienced its longest stagnation since World War II. Germans are eager for the same innovative spirit that revived their country from the ashes of that war.
鈥淭here is really a sense of urgency at the moment because we are on the third year of a recession with no end in sight,鈥� David Dei脽ner, managing director of the Foundation for Family Businesses, told the BBC. 鈥淕ermany really needs ... a fresh signal for growth and unleashing growth and innovation.鈥�
The country鈥檚 business model of manufacturing exports is 鈥済one,鈥� Friedrich Merz, leader of the winning party, the 海角大神 Democratic Union, told The Economist in February.聽 Germany has been a laggard in new patents 鈥� caused by what experts call 鈥渢echnophobia鈥� 鈥� and misjudged the rise of China鈥檚 economy, especially its progress in electric vehicles.
Now seen as Germany鈥檚 next chancellor, Mr. Merz plans to form a coalition government by April 20 and then quickly cut red tape for businesses and push Germans to finally embrace the digital age. He plans to create a ministry for digitization, a function currently embedded in the Transport Ministry. His party promises 鈥渞eal breakthroughs鈥� in artificial intelligence.
A revived economy is vital for Germany to help Europe pay for Ukraine鈥檚 defenses, achieve climate goals, and fend off rising calls on the right to end immigration. 鈥淥nly an innovative Europe will bring us forward again,鈥� says Adrian Willig, director of the Association of German Engineers.
During the election, many issues came up. But the desire to revive the economy through innovation was a constant theme. As the de facto leader of the European Union, Germany may be finding its footing again. A high voter turnout showed that Germans are not giving up.
