Successes of AfD and BSW
Germany's economy in a spiral of frustration
The success of the AfD in the elections in Thuringia and Saxony is a low blow for Germany's economic development. Worries and uncertainty are fueled. What is needed right now is new courage and a spirit of optimism in the economy.
The success of the populists in the state elections in Thuringia and Saxony cannot seriously surprise anyone. He was expected. And yet the election results, now that they are available in black and white, are causing great concern for managers and entrepreneurs. They are another blow that hits the already struggling economy at the worst possible time. This is fueling frustration in the executive suites of German companies.
In view of the xenophobic and anti-business agenda of the AfD and the BSW, business decision-makers are questioning their investments in locations where the populists dominate. Above all, they fear that even more urgently needed skilled workers will migrate from these regions – or not come there at all.
Even passionate optimists are already finding it difficult to recognize signs of an early and sustainable economic recovery. This would be important in order to give people in Germany courage to look forward to better times, regardless of the political problems and disputes that are discussed every day. The lack of confidence and fear of personal loss of wealth strengthen the populist parties. The economic crisis, which is becoming increasingly clear in the statistics, has not yet fully reached many people.
The worst part is getting used to it
The German economy has been more or less standing still for almost five years. The gross national product, the sum of all goods and services produced, is approximately the same as before the Corona crisis, adjusted for inflation. The fact that large corporations in particular are relocating more and more production units abroad has so far gone largely unnoticed. If this development becomes noticeable in people's lives, the frustration spiral could turn even faster. Worry, discouragement and gloom fuel each other and give the populists a boost.
The bad thing about development: you get used to it. A wake-up call and a spirit of optimism are becoming increasingly difficult.
But that's what it takes. Just now! Not everything is going badly. There are a number of corporations and medium-sized companies in the country that are shining and celebrating new successes day after day. High-tech companies are forging technology clusters, and production is booming from companies in the renewable energy, pharmaceutical and mechanical engineering sectors.
This may sound banal to critics. But simply badmouthing doesn't help anyone – except the populists.
