On Tuesday, the 5th of February, 2019, the Economy Minister of Germany, Peter Altmaier, said that the German government is well-prepared to purchase stakes of privatized domestic companies in order to prevail foreign financial invasions and to safeguard the country’s prosperity, signaling a possibility of an upcoming market shift.
The talking points of a more defensive industrial policy has been pivoting around the German concerns of foreign companies, in particular Chinese companies, acquiring intellectual knowledges of German technologies, on which the country’s wealth has been built for decades.
During the statement, the German Economy Minister had also been quoted saying that the survival of companies such as Thyssenkrupp, Deutsche Bank, Siemens and Germany’s automakers had been of national significance.
Apart from that, he also suggested the reform of an investment fund aimed at supporting the critical businesses. Expressing concerns on key technologies being sold off, Peter Altmaier said in a news conference, “It can go as far as the state taking temporary stakes in companies - not to nationalize them and run them in the long run but to prevent key technologies being sold off and leaving the country.
” Despite the effort of German government, questions remained whether the govt. would be able to prevent the sell-off of key technologies, without reforming the rationales of fair trades in the local businesses.