Guest comment: Private investors' interest in Europe is increasing

Globalization has been the core of Germany's economic success in recent decades. Germany has strategically used the result, above all open markets, networked supply chains and falling energy and transport costs, to sustainably strengthen its own competitiveness as an export-oriented economy.

This strategy has provided significant benefits for over 30 years, but also created economic dependencies and exposed economic risks. These include Europe's dependence on US technologies in the areas of artificial intelligence (AI) and digital infrastructure, as well as cybersecurity risks that manifest themselves in geopolitical tensions at both financial and operational levels. This is only now becoming apparent with the increasing retreat of globalization and has led to a paradigm shift in Germany.

At the heart of this rethinking is the focus on economic security. This refers to the state's ability to ensure the stability and growth of an economy by making it more resilient to internal and external risks. In practice, this issue today influences how capital is directed by states and used by investors.