Snabe: Closer EU cooperation is needed

Snabe: Closer EU cooperation is needed
Jim Hagemann Snabe.

22-01-2018 11:15:00

Prior to the Davos Summit, President of Maersk and Siemens, Jim Hagemann Snabe, called on politicians to invest in a closer European cooperation in the EU and increase focus on education, training and innovation in order to beat the emerging Chinese market.

Competition between European and Chinese companies will grow more intense in the coming years as major Chinese groups challenge the ways of European and Danish business.

"China consciously positions itself and are focused on being a global force. Chinese companies that previously worked within the country are expanding global themselves, "says Jim Hagemann Snabe in an interview with Berlingske Business. Snabe will attends in this week's the World Economic Forums annual meeting in Davos.

The chairman of Maersk and Siemens point out that closer cooperation and greater agility are necessary elements to focus on in order to compete with Chinese companies that will "challenge price levels radically".

"We are experiencing difficulties working together closely due to the tendency for countries to increase their sovereignty locally. We also tend to get stuck in political debates and that is dangerous at this stage. We have to exploit our speed as smaller countries, who have to work closely together. If I have to compare with my industry, we went from large mainframe computers to networks of small computers that act as one system. The strength lies in network, "says Jim Hagemann Snabe to Berlingske Business.

Source: Berlingske Business / Maritime Denmark

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