Germany displaces South Korea as the “most innovative nation in the world”
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As of: 4:18 p.m. | Reading time: 2 minutes
Switching to electromobility could put 400,000 jobs at risk
– – In Germany, the switch to electromobility could put 400,000 jobs at risk. Almost 90,000 jobs could be lost in the production of engines and transmissions alone. – –
– South Korea led him for six years: the “innovation index” of the Bloomberg news agency. Now Germany tops the ranking, thanks to an industry that has been declared dead. – – – SFor eight years now, the Bloomberg news agency has been analyzing the economic data of around 60 economic nations in its “innovation index” and using this to create a ranking. This year, the first place surprised some viewers: it is occupied by Germany. The Federal Republic was in second place last year. This year Singapore came second, Switzerland third. The USA only made ninth place, Japan reached 12th place, China 15th. South Korea had previously taken the lead six times in a row. South Korea lost its position primarily due to the slump in productivity, the report said. The German economy obviously brought the criteria for added value, high-tech density and patent activity far ahead. These areas are particularly responsible for the German automotive industry, since companies such as Volkswagen, Mercedes and BMW are currently investing heavily in research and development in the course of their investments in e-mobility and autonomous driving. “The manufacturing sector is still very competitive and a source of innovation,” said Carsten Brzeski, chief economist at ING. “Germany’s performance on such indicators is still strong and much better than the recent economic weakness suggests.” A third of research and development expenditure in Germany continues to go to the auto industry. On the one hand, this is a strength of the business location, on the other hand, it is also a potential weakness. “Disruptions and prolonged weakness in this sector could hamper Germany’s innovative strength,” said the economist. The German automotive industry is flanked by the mechanical engineering sector. “German mechanical engineering is still extremely competitive and a good basis for further innovations,” Brzeski is quoted by the news agency.Mechanical engineering also remains a backbone of the economy
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