To emerge from recession, countries must unite

All countries working together will shorten the economic crisis griping the world today.
Protectionism will only prolong the morass facing the world, said the keynote speakers from Germany and from partner country the Republic of Korea Sunday at the opening ceremony for Hannover Messe in Hannover, Germany.
“Worldwide cooperation like that shown at the G20 (Summit) shows that global acceptance is vital,” said German President Horst Koehler. “We need a logical worldwide cooperation between the financial markets and with goods.”
What will get countries out of the financial quagmire, Koehler said, is hard work and creative thinking.
“Innovation and quality are the keys,” Koehler said. “That is what Germany is known for, but to get of (the recession) we need cooperation from management and unions. We don’t know when the recession will come, but it will come. When it does come, everyone will rely upon the people being ready.”
The answers do not fall with one person, or company, or country for that matter. Instead, it will come from the collective across the globe.
“We live in a shifting paradigm. We still fall short in a cooperative platform,” Koehler said. “We have not exploited the digital revolution or the environmental revolution. Germany has not taken advantage of this and neither has anyone else.”
“We must cooperate globally,” Koehler said. “Germany and Korea have an interest in being export companies to ensure initiatives to emerging companies continue to move forward.”
But, Koehler said, it all comes down to financial institutions. “The world needs a rapid conclusion to the financial issues.”
“Credit is the lifeblood of industry and as long as banks have no confidence in each other, there will be no growth,” said Prime Minister Dr. Han Seung-soo of the Republic of Korea, the partner country at this year’s exhibit. “We must unite to eliminate all types of protectionism that is a must.”
Seung-soo said a more global approach will lead to success.
“We are all facing financial crisis, but there are some countries that only try to take care of their own companies,” Seung-soo said. “Protectionism does not help at all. Protectionism should be opposed.”
Seung-soo also said they should continue to open the doors to commerce between Europe and Korea.
“The Free Trade Agreement between the EU and Korea will mean we can help and support each other in our markets,” he said. “I do hope (Hannover Fair) will act as a stimulus to help free trade. We want to work to help get a foothold in Europe.”
One of the areas both countries can work together on is in the area of green technology.
“Germany has taken a firm hand on green growth,” Seung-soo said. “Korea is not that far behind. We have a new green new deal now in effect in Korea. Germany and Korea are starting on the path to green growth.”
To grow as a country, you have to take some risks, Seung-soo said.
“In our country damage has two components: Risk and opportunity. We are going to take this international crisis and turn it into an opportunity for growth.”