The German economy has massively lost competitiveness. In an RND interview, KfW chief economist Dirk Schumacher explains the role of the new rival China and how a pension reform can help overcome the crisis.
In an interview with RND, Dirk Schumacher, chief economist at KfW bank, discusses the challenges facing the German economy. He emphasizes that Germany has massively lost competitiveness. A key factor is the new rival China, which threatens Germany's position.
Schumacher sees significant potential in a pension reform, specifically a capital-covered pension. This could act as an innovation driver and contribute to overcoming the economic crisis. KfW, a development bank, thereby underscores the need for structural changes in retirement provision to strengthen competitiveness in the long term.
The interview sheds light on current debates about pension systems in Germany, where demographic challenges and global competition are increasing.
