Three Blocs

BERLIN (Own report) – The German government is proposing a new industrial strategy to shield German companies from takeovers by foreign corporations, while facilitating mergers of large German and EU corporations. The “National Industrial Strategy 2030” presented yesterday, by Germany’s Minister of the Economy Peter Altmaier intends to enable the German industry to prevail in global competition against Chinese, as well as, US corporations. So-called “national” or “European champions” are needed, even if they do not comply with current anti-trust regulations. This has been a proposal in Berlin for quite awhile. Measures are needed “to secure” or “regain Germany’s and the European Union’s economic and technological leadership.” This is also in response to a protectionist race to reindustrialize the USA and the EU, which was launched under Barack Obama and is now being accelerated by the Trump administration.