Germany's ambitious targets for reducing carbon dioxide emissions — coupled with its policy of phasing out nuclear power generation — pose a very serious challenge for the competitiveness of German industries, Daniel Goffart, a senior editor for politics and the economy at Handelsblatt, told the Oct. 10 symposium.
As a country lacking in sufficient natural resources just like Japan, Germany relies on its technology on the one hand and energy imports on the other to sustain its economy, said the journalist from the Dusseldorf-based business daily. Therefore, the nation should have an energy policy that ensures competitiveness for its firms, as well as safety and a stable supply for its consumers and industries, he said.
Energy demand is rising worldwide while resources are becoming increasingly scarce, causing prices to shoot up. Meanwhile, Germany's dependence on energy imports is on the rise, he noted.