Home topics news News News The Germans are at it again Australian Business International Trade Services June 4, 2009 Written by Ron Krueger The Germans are traditionally renowned and respected for their engineering prowess, efficiency and innovation. One can only admire the immaculate construction of an Audi or a BMW. Since unification in 1989, the German phoenix has once more risen from the ashes to become Europe’s most advanced and strongest economy. It has achieved this through its unerring capacity for innovation, an unwavering pursuit of perfection. Germany has, according to the Consul General of Sydney, Dr Guenter Gruber “hit a sweet spot.” ”We have all the elements that attract investors – political and financial stability, highly skilled labour, leading edge innovation. “This can only lead to long term economic commitment and fantastic growth prospects.” While Australia has had the glory of riding on the sheep’s back and now languishes on the spine of a booming mineral resources industry, the Germans have had to use their wits. “We have few resources and high costs of labour,” noted Dr Gruber. “However, when it comes to exporting, we are like no other country in the world.” It’s a vehement claim, yet, Germany is at the heart of the European Union. Its central location, its capacity to sustain remarkable growth while constructing the latest telecommunications and most infrastructure – are all entwined in an annual growth rate of 2.8 percent. And while this growth rate may pale compared to China’s overheating economy, Germany’s