German industry is being lapped in key sectors like solar panels, semiconductors and even cars — but the country's midsize businesses suggest the economy isn't losing its edge.
For years, doubts have grown about the international competitiveness of German industry. Take the photovoltaic sector, for example, where Germany had a lead but the real action has long since shifted to East Asia. Similarly, its famed automotive industry is fast losing ground, particularly compared to China.
Yet some German giants remain global leaders, including SAP, Europe's largest software provider, Deutsche Telekom, a leader in telecommunications and DHL Group, the world's top logistics and international express shipping firm.
Germany still ranks among the top five largest economies in the world, even as growth forecasts are slashed. It may have fallen behind the United States and China, but it remains "the best of the rest." This fact isn't just thanks to a few big names, but rather owes a lot to small and midsize businesses.
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