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We’ve invited Volker Treier, Chief Economist for the German Chamber of Commerce and Industry, to talk to us about inventions in Germany.DW-TV: Mr. Treier, thanks for joining us. You're in direct contact with Germany's exporters. Give us a damage report right now. Volker Treier: Thirty five percent of the whole international trade is transported on euro basis, not on the weight, but on euro basis, is transported by the air freight. And therefore the damage could be higher. DW-TV: When you say damage, what are you talking about? Are we talking about a meltdown of global trade, European trade? Volker Treier: It's too early to announce a meltdown, but nevertheless for Germany this is a reduction in business activities by around one billion euros each day and therefore it could be a damage a lot of could be compensated when we would have a really free airspace again. DW-TV: That's the big question. Let's look right now at just how much of Germany's economy depends on air transport. We've got a graphic we want to show people. When we talk about exports, a third of all goods are transported by planes from Europe but more use highways, rail and sea. Mr. Treier, is it possible to re-route everything, use land and sea routes? Can we compensate a hundred percent? Volker Treier: Globalization has to do with transporting a long ways, long routes from Europe to Asia where we have production locations and transporting back to Europe and this is not possible. DW-TV: And that's the Achilles heel of globalization, isn't it? Has anyone thought of an emergency plan when globalization breaks down? Volker Treier: No, I mean you're absolutely right. We are dependent on all these logistical networks and what we have are the production plants and these intermediate goods from one location to the other and there we need the air freight. DW-TV: We've got the airlines saying that euro control has been too careful, that these restrictions on airlines have been too much, too drastic. Are the...
Channel: sevenload
Video Length: 0
Date Found: August 27, 2010
Category: News
Date Produced: August 23, 2010
View Count: 0
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