Europe’s largest economy not only faces a rethink about how much it needs to invest in defence, but an equally difficult economic reckoning
Save time by listening to our audio articles as you multitask’s success is not entirely home-baked. Another essential ingredient is cheap Russian gas, reliably delivered via pipeline. The complex in Ludwigshafen is Germany’s biggest industrial consumer of the stuff, piping in about 4% of the country’s total annual gas consumption, enough to heat millions of households through the coldest of winters.uses about half to produce steam, the other half as feedstock.
Now this energy dividend is set to be curtailed, even if the war in Ukraine ends soon. For a generation at least, Germany’s leaders will look to end their country’s dependence on Russian gas and oil. As a result, . Its industrial titans have started to reconsider their finely tuned business models.How severe a blow Germany’s economy takes will depend on how quickly it can adapt to doing without Russian gas.
The second part of Mr Brudermüller’s strategy is more surprising. The economic repercussions of the war in Ukraine are pushing his firm eastwards. Higher energy costs and stricter environmental regulations in Europe make China look ever more attractive, he says. Having lived in Hong Kong for a decade, he has long admired what he describes as the country’s pragmatic authorities and dedicated workers.
Mr Brudermüller looks like the most energetic of Germany’s big bosses in his drive towards China. But many others are said to be tempted to turn more decisively towards the east. They should think twice before embracing a greater reliance on China and instead try to rekindle the spirit of Teutonic thrift and inventiveness that made possible the industrial wonder that is Ludwigshafen.has done it before, albeit for a more dubious purpose.
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