“Is industry about to wither and die?” – that was the pointed headline used by the German journal “Der Spiegel” late last year to fire up the debate surrounding industry’s prospects for the German economy. [1] That debate had gained increasing traction. Our industry is indeed facing significant challenges, three of which I would like to highlight today. First, supply chains.
During the pandemic, these turned out to be much more vulnerable than we had previously thought. Bolstering supply chains is of fundamental importance for any firm. And for our aggregate economy as well, open as it is. Second, the supply of energy.