Herrenknecht AG’s headquarters in Schwanau, Germany.
Source: Herrenknecht AGGermany's Niche Companies Are a Model for Life After Globalization
Mid-sized companies are reducing their dependence on China, dominating their industries and creating a roadmap to succeed in a new world economy.
Germany was the West’s biggest winner from the past 30 years of globalization. Russia provided cheap energy. Emerging markets provided cheap labor. Everyone who was anyone wanted to own a Mercedes or a BMW or an Audi. And the cherry on the Black Forest cake: The United States picked up the bill for defense while the Germans devoted all their energies to making money.
Globalization brought psychic benefits, too. Germany’s two previous irruptions onto the world stage — in 1914 and 1939 — had occurred in the name of nationalism and militarism. The new age of globalization allowed Germany to showcase its ability to work across borders in the name of universal prosperity.