For crisis-resilient growth and better global collaboration
News from 2020-10-19 / KfW Research
The global response to the coronavirus pandemic has plunged Germany into a deep recession. Still, there is good reason to be optimistic. This becomes clear if we compare it with the unification of Germany, which brought the deepest economic slump of the post-war era so far. This discussion paper describes what we now need to do in Germany to succeed in overcoming the crisis and strengthening environmentally sound growth on a sustainable basis. Five fields of action are crucial: 1) making the economy resilient to crises; 2) advancing towards a carbon-neutral economy; 3) translating inventiveness and reduced mistrust in digitalisation into productivity increases; 4) continuing to use the advantages of international integration and avoiding a nationalisation of supply chains; and 5) strengthening Europe.