German Labor Minister Pushes Industrial Policies to Safeguard Jobs

Hubertus Heil advocates state-supported measures to protect key industries and workers during economic downturn.

Labor Minister Hubertus Heil warns of severe risks to Germany's industrial base, citing challenges like cheap Chinese steel, high energy prices, and declining demand.
The German government has extended short-time work benefits to 24 months to help companies retain employees during the economic slowdown.
Heil emphasizes the need to modernize public infrastructure and industrial sectors, including automotive, machinery, and chemical industries, to remain competitive globally.
He criticizes laissez-faire economic approaches and highlights robust industrial policies in the U.S. and China as examples Germany must adapt to compete with.
State intervention, Heil suggests, should focus on collaborative solutions between businesses and workers, with aid tied to innovation and sustainable practices.