- German firms ·
- iwd ·
- 30 Mar 2015
How is the industry coping with globalisation?
Over the past few decades, there has been a shift in economic power from the established, industralised countries to the emerging, industrialising countries. While the established countries still accounted for 81.4 percent of the global economy in 1995, their share had dropped to 63.5 percent by 2012. The importance of the emerging, industrialising countries has grown; their share of the global economy increased from 12.8 to 27.8 percent between 1995 and 2012. This shift is particularly evident in the industrial sector, where new economic power centres have seen their share of value added rise from 16.2 to 41.3 percent, much of that at the expense of the established countries. Most notably, China’s share grew to 24.4 percent.