German big business calls for early vote, economic vision [Yahoo! Finance]
BASF SE S/ADR (BASFY)
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Source: Yahoo! Finance
Already hit by high energy prices, stiff Chinese competition in key sectors and slow growth at home, companies and industry lobbies were further alarmed by the political turmoil in Berlin. Hours after the world learnt that Donald Trump, a strong proponent of tariffs, is headed back to the White House, German Chancellor Olaf Scholz's ruling coalition imploded. "As if an already dramatic day for the global economy needed any more excitement, Germany has delivered a significant political upset of its own," wrote Carsten Brzeski, economist at ING. The centre-left Scholz said he aimed to hold on in a minority government until snap elections likely in March, but industry associations charged that this is far too late. The industry federation BDI and the automakers' group VDA both demanded a new government "as quickly as possible." "Every additional day with this federal government is a lost day," said the foreign trade association BGA. Chemical industry group VCI said that "we
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