How does globalization affect individual economies?
Heise: Globalization is the driving force behind structural change which helps economies advance themselves. Any country engaged in international trade is changing constantly. Germany is an excellent historic example. After World War II it was initially industries like coal, steel and textiles which were displaced through international competition. Then other branches, like consumer electronics, came under pressure. Germany accepted the structural changes and was able to profit in other areas. We were able to define our strengths in other branches such as plant engineering technology, chemicals, the automobile industry, medical technology, energy and others. German companies are well-positioned in globalized markets. However, it is certain that change will continue; especially the shift from manufacturing to services.
