A brief interview with Prof Wolfgang Ischinger, former Ambassador of the Federal Republic of Germany and longtime Director of the Munich Security Conference.
What’s your advice for companies in this challenging time?
Geopolitical challenges can also present opportunities. Recognizing new markets in Southeast Asia and South American can be part of a pro-active and forward-looking business approach. The same applies to companies as to public institutions: Your organization should not be taken by surprise but rather put itself in a position to react quickly and flexible to new circumstances.
How important is Germany as a location?
I can only answer that question from a foreign policy standpoint. Germany remains an attractive location for companies from other countries. At the same time, it’s clear that we can’t afford to fall behind when other countries are racing ahead in key industries such as artificial intelligence, cloud computing, space and communications technology. The key to that can only lie in Europe. Germany and the EU can play an intermediary role between the US and China.
How important are flexibility and alternatives?
Crucial. Conducting business internationally in this turbulent time requires both forward-looking analysis of alternative trading partners and markets as well as the recognition of geopolitically exposed parts of the company. Oftentimes the resilience of an organization is not a question of internal measures and processes but rather of the mindset with which it approaches issues.