Hallo Tech: Germany Adapts to the Digital Age

Exchanges

Goldman Sachs

Business

4.3 • 1.1K Ratings

🗓️ 3 August 2018

⏱️ 20 minutes

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Summary

Germany is in focus in Europe and around the globe as its historically strong economy undergoes a transformation adapting to the digital age. As part of our closer look at emerging economic and market themes in Europe, we sat down with Wolfgang Fink, chief executive officer of Goldman Sachs Germany and Austria, to talk about Germany's economy and business trends, including how technology is impacting German corporations. "Technology change is affecting all large [German] corporates," Fink says. "Most importantly, with respect to access to their customers… the disruption of their business models, the change in their value chain." Also in the episode, Fink discusses the future of the European Union and political challenges facing Chancellor Merkel. This podcast was recorded on July 19, 2018. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed. This recording should not be relied upon to evaluate any potential transaction. Goldman Sachs is not giving investment advice by means of this recording, and this recording does not establish a client relationship with Goldman Sachs. Copyright 2018 Goldman Sachs & Co. LLC. All rights reserved. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the
0:09.0	exchanges of Goldman Sachs, where we discuss developments currently shaping markets, industries, and the global economy.
0:15.0	I'm Jake Seawert, global head of corporate communications here at the firm.
0:19.0	Germany is in focus in Europe and around the globe today, as its historically strong economy undergoes a
0:24.8	transformation adapting to the digital age.
0:27.7	To talk about that and much, much more, we're joined by Wolfgang Fink, Goldman Sachs' chief executive
0:32.4	officer for Germany and Austria.
0:34.4	Wolfgang, welcome to the program.
0:36.4	Thank you very much, Jake.
0:37.2	Good to be here.
0:38.0	So let's start by just talking about the state of the German economy.
0:41.0	Where are we in the cycle and what's been driving the
0:43.7	sort of volatility over there this year? Since we are off the crisis or the
0:47.8	crisis is behind us, Germany's economy has been thriving and has been leading Europe in many respects and that we have seen in particular since
0:56.0	2014.
0:57.0	It's still a very strong performance of the economy, but I'd say we are a bit towards the end of the cycle.
1:05.0	We are more in line with European growth.
1:07.0	We're not outperforming European growth.
1:09.0	We're still is slightly ahead of economies like France and Italy in terms of the growth and the expected
1:14.0	growth coming. Countries like Spain are stronger. So I think we still have a very
1:18.1	stable picture but clearly these very strong years of growth are somewhat behind us.
1:24.0	And is the strength outside of German's economy?
	...

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