by Diana-Maria Stocker //
The sell-off of the German economy continues apace. Presumably, the Chinese buyer Jingdong has taken a particular liking to MediaMarkt. Whereas the German economy used to be self-confidently critical of Asian investors or even buyers, nowadays it seems to be happy that anyone is still willing to buy ailing German companies.
Gone is all the skepticism or even critical reporting that existed at least a few years ago when the Chinese company Cosco established itself in the Port of Hamburg - as it did in many internationally relevant ports. Yes, at that time there was even some criticism from the mainstream towards former Chancellor Scholz, who was once mayor of the Hanseatic city and was partly responsible for Cosco's entry.
Now, after the countless billions spent on the Green Deal and the serious debt brake dementia of the current chancellor - forgetting is probably an accompanying symptom of the office - almost all criticism is giving way.
The Federal Cartel Office has nothing against Jingdong, the Ceconomy buyer - Ceconomy AG owns the MediaMarkt and Saturn brands. This has now become known. And why: Jingdong has not really been active on the German market so far. But what about trustworthiness and China's handling of data? The antitrust authority pointed out possible security policy aspects. However, the Federal Ministry of Economics is responsible for examining these.
And what will the outcome of this investigation be? After all, every Chinese person is suspected of being a spy or at least an intermediary, especially when it comes to connections in the conservative spectrum. In this case, relationships are scrutinized very closely as a precaution - often by German intelligence services close to the government. So while individual contacts are mistrusted, entire trading giants are presumably passed on almost silently.
But it is not the sale itself that is the scandal - MediaMarkt and Saturn are no longer shiny silverware, but ponderous giants on a drip. The decisive factor is that German politicians are not showing any strategic direction in this situation either. Once again, a key retail platform is being passed on to foreign players, not out of strength but out of weakness. If German decision-makers once again leave the field to others, then unfortunately they have not heard this gong either.
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"Germany is doing away with itself." Sarazin's book title still fits perfectly. It's like the Titanic after the collision with the iceberg. The captain pretends not to have heard anything. Perhaps he is hard of hearing. The officers form a homogeneous block, thinking only of themselves. The first-class passengers are dancing in the ballroom because the ship is unsinkable and they still have their own private life raft in case of emergency. On the middle deck, there is an excited sense of helplessness, but no one speaks out loud about their fears. The lower deck is rumbling because they know there is no rescue for them. Women and children first, says the women and children on the upper deck. The on-board newspaper spreads a good mood and strengthens the will to persevere. On the promenade deck, people continue to promenade as if nothing had happened, while the water is already knee-deep in the corridors. The pastor on board is horrified and whispers, "My God, they always told us something completely different. The fairy tale of the rich country." It dawns on his flock, "Help, we've been hoodwinked again!" Then the captain decides "Full speed ahead!" If we're going to sink, let's do it properly! After all, we've practiced!
Bingo, dieser Hinweis!
Vor 15 Jahren war das!
Viele kauften es sogar:
https://web.archive.org/web/20141220230230/http://www.gfk-entertainment.com/news/thilo-sarrazin-sprengt-alle-rekorde.html