Industry as a Cornerstone of Stability

Uncertainty, distrust, and a sense of being overwhelmed – these are the words that unfortunately come to mind when describing the current mood in society. As our world becomes more intricate, the yearning for direction and stability grows stronger. This often leads to a dangerous tendency towards oversimplified solutions, polarization, and a desire for authoritarian order. This trend is evident even in Germany, where the upcoming federal election in late February will determine the country's future direction.

To prevent vague fears from taking hold, we need to broaden our understanding of security and develop a comprehensive strategy for societal resilience. That's why I'm pleased to see that the Munich Security Conference, which I'm attending, is addressing not only geopolitical issues but also social and environmental concerns such as "democratic resilience" and climate security.

In our fragile world, security goes far beyond preparing for military conflicts, countering hybrid threats, or fighting crime. It also means rebuilding sustainable ecosystems and fostering more inclusive societies. These issues are still too often considered in isolation rather than as part of a holistic approach.

Sustainable Growth: The Foundation of Stability

But there's more to it than that. A resilient nation and a functioning global system must be built on sustainable growth and prosperity. This is where a strong industrial sector becomes crucial. In my view, it forms the bedrock of political autonomy, environmental preservation, climate change mitigation, and a society that can withstand stress.

A strong industry is a cornerstone of the German and European economies. It includes the chemical sector which employs 480,000 people and generates 225 billion euros in revenue. Chemicals, pharmaceuticals, and plastics drive innovation and are the starting point for countless everyday products. And they form the backbone that keeps countries like ours running.

The COVID-19 crisis has shown us all how vital the pharmaceutical industry is to our society. Many other examples are easy to find. Take critical infrastructure: The data and power cables connecting Germany to the world only withstand harsh ocean conditions thanks to plastics. Or consider economic self-sufficiency: As a leading exporter, Germany relies on secure shipping routes. Without paints and coatings from the chemical industry, cargo ships would be less durable and less efficient.

Now I'm not here to sing the praises of "my" industry. Rather, I want to use it as an example to emphasize a crucial point: To remain strong and help shape the future, Germany's industrial base must not only be maintained but strengthened. At the moment, however, it's dangerously eroding.

To reverse this trend, many good proposals have been put forward. These include reducing bureaucracy, energy costs, and taxes; expanding transportation infrastructure, digitalization, education, and European integration; and promoting future technologies and the potential of all people. The next federal government must take these points to heart and implement them consistently.

The key to all of this is greater openness and cooperation across the board. The "Operation Plan Germany" of the German Bundeswehr from 2023, for example – to tie this back to the Security Conference – shows how politics, society, and the economy can meaningfully interlock in case of defense.

We should make this collaborative approach the norm. Only then can we fully harness the potential of industry to create a sustainable, prosperous, and resilient future.

_{Copyright Header Image: © covestro}