Angela Merkel looks set to stay in charge of Germany as national elections approach, cementing German prosperity and engagement with Europe.
In recent times, dissatisfaction has driven elections around the world – be it through the populist pushes away from the governing elite that led to Brexit and Donald Trump’s victory, or fresh faces like French President Emmanuel Macron offering to overhaul a stagnating economy.
Yet in Germany, which holds its own national elections on September 24, there’s a different story; voters are seeking to uphold their status quo rather than oust it, and right now the prospects of that are looking pretty good.
Unemployment, currently at 5.3 percent, has dropped to its lowest level since German Reunification nearly three decades ago. Both salaries and pensions are increasing. Economic optimism has hit a 16-year high, with private spending expected to grow in the next year, according to a survey from the GfK Institute. And in August, the government significantly ramped up state subsidies for up-and-coming industries such as electric cars as well as broadband Internet in less covered regions of the country.
All these signs of stability and growth are a boost for Chancellor Angela Merkel, whose right-of-centre Christian Democrats (CDU) are polling at about 14 percentage points ahead of the Social Democrats and its centre-left candidate Martin Schulz. Should she win, Merkel will enter her fourth term in a country that has been governed by a Christian Democrat for 48 years out of its 68-year modern history as a Federal Republic.
“I think Merkel definitely stands for long-term continuity and I think this is something that a majority of Germans appreciate because it gives degrees of certainty and predictability,” says Joerg Forbrig, a senior transatlantic fellow at the German Marshall Fund in Berlin.
This story is from the September 2017 edition of The PEAK Hong Kong.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2017 edition of The PEAK Hong Kong.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Supercar Condos
This new property project is set to be the perfect spot for elite supercar owners to store and show off their rides.
New Gear
Lamborghini unveils an upgraded supercar that boasts breathtaking performance with open-air driving thrills.
Aquatic Timekeeper
As a nod to the futuristic glass bathysphere from The Abyss, this timepiece raises the bar for horological aesthetics by marrying abstract visual concepts with mechanical wonders.
A New Way To Do Business
Attracting and retaining a creative workforce is a perpetual challenge. The answer may lie in B Corps, a certification process that’s focused on the societal impact a company has.
Circular Opportunities
Why Hong Kong companies should start turning their waste into a supply source.
The Game Changer
After years spent residing in Spain, Paris and the US, Northacre CEO Niccolò Barattieri di San Pietro now has his eyes set on London. The forward-thinking property giant is aiming to restore the former glory back into historical developments in the British capital.
The Quiet Giant
Dr Jonathan Choi wears a lot of hats and sobriquets as he heads up low profile conglomerate Sunwah Group. But with a rising tide of interest in ASEAN and a pending free trade deal, the quiet days may get a little noiser.
The Boutique Experience in Mexico City
When it comes to Latin America, Mexico is Hong Kong’s second-largest trading partner and the biggest buyer of Hong Kong exports.
Discovering the Dark Side
Following a growth in the number of protected 'dark sky places' and stargazing travel destinations, all of which offer visitors increasingly luxurious ways to gaze in awe at the night sky, there has never been a more exciting time for astrotourism.
Back On Top
Angela Merkel looks set to stay in charge of Germany as national elections approach, cementing German prosperity and engagement with Europe.