The government are going to take stakes in some high-tech companies in an attempt to stop them from being sold to investors who are not from the EU. This proposal was set by the Economy Ministry to try and underscore the protectionist mood that is happening right now. The problem is that the idea has been slammed by business groups as some believe that it is interfering with the market. Mr. Altmaier has stated that the industrial strategy is improving the government’s power and that it is blocking deals in more sensitive parts of the country. He said that ministers should be able to try and intervene whenever someone who is not a member of the EU tries to obtain a stake of 10% or more in a German company. They are however trying to make sure that this isn’t done in areas that span beyond artificial intelligence, semiconductors, biotech or even quantum tech.

The State of Tech

Of course, if you look at sites such as NetBet, you will soon find that there are so many games for you to choose from and that things have progressed with the casino world so much. People don’t want sites like this limiting, but that’s not what the German government are trying to do. They are just trying to limit investment for the industries that revolve around IT security and even electricity networks. The government have stated that they don’t want protectionism and they do not want to burden businesses either. They do however want there to stop being a clearance sale of German businesses to other countries abroad.

The Reaction

Eric Schweitzer who is the head of the chambers of industry, has stated that there is a creeping shift towards the state-driven policy. The new strategy comes among a lot of concern in Germany and they are their strongest economy and export champion too. When you look at the rise of the platform economy in both China and the US, you will see that there are fears for the Deutschland AG and that job cuts are looming. The industry as a whole has lost over 50,000 jobs alone this year and they also have fears that they are going to struggle to cover the cost of the shift to electronic vehicles.

10 Year Plan

President Xi Jinping has stated that they have a 10-year plan to try and transform the country and that they are also going to become much more power dominant as well. They have the hopes of advancing in over 10 industries and they are also very concerned about their technical experience too. Other people however are determined that Germany are going to become the best manufacturer of battery cells and that they are going to be the driving force behind electric cars. The second industries include BMW and BASF, which are a German chemical company. People have demanded tax cuts and a capping of any social security businesses too so that companies like this can thrive and look to the future without being left behind.