Secondly, competitive currency depreciation does not only lead in these two countries to euro appreciation that damages exports. Thirdly, the raise of a recently potential ‘currency war’ includes the political risk of increasing protectionism, which could result in another setback for global trade. Fourthly, there are specific risks facing the logistics sector, for example in the form of rising fuel prices, personnel and environmental costs. Within DIHK’s business survey, German companies were asked where they see the biggest risks for their business development in the next 12 months. The results showed that increasing energy and commodity prices are considered to be the main risk in 2011. Whereas domestic and foreign demands were considered to be the biggest risks for companies in 2010; the risk evaluation of these issues is now significantly more relaxed. Nevertheless, a decline in domestic demand is still considered to be the second highest risk. The largest increase of risk evaluation can be seen of skills shortage. This holds especially true for mechanical engineering, IT-service providers, nursing, health services and even the catering industry. Skill shortage is in particular a challenge for small enterprises that have no large human resource management available. Providing the economy with qualified workers, will probably be the main challenge in the next years. n TOP-risks
Secondly, competitive currency depreciation does not only lead in these two countries to euro appreciation that damages exports. Thirdly, the raise of a recently potential ‘currency war’ includes the political risk of increasing protectionism, which could result in another setback for global trade. Fourthly, there are specific risks facing the logistics sector, for example in the form of rising fuel prices, personnel and environmental costs. Within DIHK’s business survey, German companies were asked where they see the biggest risks for their business development in the next 12 months. The results showed that increasing energy and commodity prices are considered to be the main risk in 2011. Whereas domestic and foreign demands were considered to be the biggest risks for companies in 2010; the risk evaluation of these issues is now significantly more relaxed. Nevertheless, a decline in domestic demand is still considered to be the second highest risk. The largest increase of risk evaluation can be seen of skills shortage. This holds especially true for mechanical engineering, IT-service providers, nursing, health services and even the catering industry. Skill shortage is in particular a challenge for small enterprises that have no large human resource management available. Providing the economy with qualified workers, will probably be the main challenge in the next years. n TOP-risks