WIRE
6/2007 November
EDITORIAL
The best man wins in the end
As the year draws to a close, the first bad tidings are already floating in. We read that global inflation is rearing its ugly head again or that entrepreneurial spirit is lacking in Europe. One study has even found that this applies particularly to Germany. Only the Belgians and Austrians show even less entrepreneurial prowess. By contrast, the Latvians, Poles and Lithuanians are seemingly the boldest.
When it comes to steel, however, we can paint a very different picture: In this field Germany plays an exceptionally dynamic role, the International Iron and Steel Institute (IISI) stated at the World Steel Conference. Even so, the global steel boom is being buoyed by the rapidly developing countries of India, Russia, Brazil and, of course, China. Which brings us back to the point: Increasing volumes of cheap steel are coming into Europe from China. In Germany, accusations are being voiced that the People’s Republic is providing Chinese companies with inadmissible financial support, which in turn distorts prices and poses a threat for German manufacturers. China is, thus, showering us with threats both from the political and economic arena. In spite of this, some still see the future there. In doing so, they overlook markets such as Russia or the Arab states. States which, certainly in the case of Russia, are exemplary when it comes to paying bills and ethical conduct. Of course, many companies have grown big by being frugal. However, the question is how long they will remain so. Another study has shown that there has been a sharp rise in demand for more quality and service. Even consumers are willing to dig a little deeper into their pockets if it means they get more for their money. It just goes to show once more that the medium and long-term strategies are generally the more successful ones. In the short term, however, I would like to wish you a very Merry Christmas and a great start to 2008.
Manfred Lerch
The best man wins in the end
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As the year draws to a close, the first bad tidings are already floating in. We read that global inflation is rearing its ugly head again or that entrepreneurial spirit is lacking in Europe. One study has even found that this applies particularly to Germany. Only the Belgians and Austrians show even less entrepreneurial prowess. By contrast, the Latvians, Poles and Lithuanians are seemingly the boldest.
When it comes to steel, however, we can paint a very different picture: In this field Germany plays an exceptionally dynamic role, the International Iron and Steel Institute (IISI) stated at the World Steel Conference. Even so, the global steel boom is being buoyed by the rapidly developing countries of India, Russia, Brazil and, of course, China. Which brings us back to the point: Increasing volumes of cheap steel are coming into Europe from China. In Germany, accusations are being voiced that the People’s Republic is providing Chinese companies with inadmissible financial support, which in turn distorts prices and poses a threat for German manufacturers. China is, thus, showering us with threats both from the political and economic arena. In spite of this, some still see the future there. In doing so, they overlook markets such as Russia or the Arab states. States which, certainly in the case of Russia, are exemplary when it comes to paying bills and ethical conduct. Of course, many companies have grown big by being frugal. However, the question is how long they will remain so. Another study has shown that there has been a sharp rise in demand for more quality and service. Even consumers are willing to dig a little deeper into their pockets if it means they get more for their money. It just goes to show once more that the medium and long-term strategies are generally the more successful ones. In the short term, however, I would like to wish you a very Merry Christmas and a great start to 2008.
Manfred Lerch
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