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As Spain takes off in aviation, Germany hits headwinds - Made IN Germany
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00:05Who's driving aviation innovation?
00:10Who's offering the best environment for new aircraft development?
00:14And who's falling behind?
00:16Airbus is a global leader in passenger planes.
00:19With major production sites in Germany.
00:22But operating there is expensive...
00:24Slow and weighed down by bureaucracy.
00:27Spain, one of...
00:29Airbus's four founding nations is quickly becoming a major hub for aircraft production.
00:34Also unmade this week...
00:39After war and destruction, Syria's startup scene is awakened.
00:45Global debt is soaring.
00:46Could a wave of worldwide defaults be next?
00:49And...
00:49Six years after Brexit, the British economy is struggling.
00:54The British economy...
00:56To the Greatest
01:23but why Seville the groundwork was laid by
01:28Spanish company Casa in the 1970s
01:33engineers here started building military
01:36cargo planes in Seville
01:38that legacy continues today with the a 400m
01:42the air
01:43bus military transporter
01:45people who work here are surprised that
01:47Seville is
01:48still relatively unknown as a center for
01:50aircraft manufacturing
01:53we've been the best for decades we might
01:57not be famous but
01:58there's no other city in Europe better
02:00suited to build this type of aircraft
02:03airbus is no longer alone here a growing
02:08number of suppliers have moved in
02:10including this cable manufacturer in it
02:13in addition to airbus they also make
02:15components for other aircraft makers and
02:17magnifique
02:18manufacturers of military vehicles
02:20our subsidiary started here
02:23to deal with just five employees and now
02:25we have more than 280
02:28growth has become exponential especially
02:30over the last three or four years
02:33demand grew so fast that the company
02:36struggled to find enough staff but the
02:38training network in Seville adapted quickly in
02:41this case the company trained its own
02:43instructors
02:46that allowed us to train qualified workers
02:48and also create local jobs
02:50and also create local jobs
02:53andalusia
02:55andalusia is still better known for olive
02:56groves and tourism
02:57andalusia is still better known for olive
02:58groves and tourism
02:58aviation is less obvious but Seville has its own
03:01stories like a laboratory
03:03worker who started out analyzing agricultural
03:06products and went on to become a
03:08leading aviation quality inspector
03:10his son now heads the company he founded
03:13he was in the right place at the right time and completely
03:18changed directions he went from analyzing wheat and
03:21sunflowers to analyzing
03:23coatings and surface treatments
03:27companies linked to
03:28airbus have created around 15,000 jobs here
03:31the inspection special
03:33specialists and the cable manufacturers still do orders
03:36for airbus but not exclusively
03:38many other firms are now hoping to work with
03:42Pilatus
03:43the Swiss company currently employs 70 people in Seville
03:46with clear plans to
03:48expand
03:49we're not just thinking four years ahead
03:52we
03:53we have long-term plans once we ramp up here
03:56we'll expand to nearby Carmona
03:58to produce on a large scale and do something different here
04:03so this site is just a first step
04:06in a few years around five
04:08five hundred people are expected to be working for Pilatus in Spain
04:12the scale of the
04:13this project has also drawn political attention
04:15this project has also drawn political attention
04:18this is a very important leap forward for us
04:21we're moving from an economy
04:23based on sun and sand which is very nice
04:26to a booming aerospace sector
04:28with airbus and many other suppliers
04:31this strengthens Seville's position
04:33as an aviation industry hub
04:37Pilatus has
04:38rapidly become a sought-after employer in Andalusia
04:41the only woman current
04:43currently working in production explains why
04:47Tiene mucha flexibilidad
04:48It's very flexible.
04:50You can balance family life and professional life, which is especially...
04:53...important for us women.
04:56And at the same time...
04:58...we're learning a very rewarding profession.
05:03More and more skilled jobs are emerging for people in Andalusia as foreign investment...
05:08...is outstripping expectations.
05:11From aircraft manufacturing to other...
05:13...tech industries, the region is attracting talent from abroad as well, such as...
05:18...of this Frenchman.
05:20To be honest, I had the opportunity to go to their...
05:23...in various countries.
05:25I speak German too, so I could have gone to Germany.
05:28But of course I prefer the sun and that southern European way of life.
05:33A lot of people have been wondering whether Spain might be able to...
05:38...capitalize more on its abundant sunshine.
05:41Now the mix of good weather...
05:43...and good jobs seems to be paying off.
05:48Years of war have...
05:51Years of war have...
05:52Years of war have...
05:53...devastated Syria's economy.
05:55Entire regions lie in ruins...
05:57...and rebuilding will...
05:58...take decades and cost billions.
06:04Yet some sectors are already making a fresh start.
06:07The startup scene in particular...
06:08...is pushing ahead...
06:09...despite the challenge of rebuilding from scratch.
06:13After years...
06:14...to be honest...
06:15...to be honest.
06:16After years...
06:17...to be honest...
06:18...to be honest...
06:18...day years of war...
06:19...isolation...
06:20...and sanctions...
06:21...the Assad era is over.
06:24Syria is trying to re-engage with the world.
06:27Sanctions are easy...
06:28...and the new government is promising change.
06:31Among the biggest ambitions...
06:32...a digital...
06:33...a digital future.
06:35We want the world...
06:36...especially the next generation...
06:37...to see...
06:38...as a driver...
06:39...of growth...
06:40...connection...
06:41...and innovation.
06:43Now...
06:44...a year after the fall of Assad...
06:45...digital still comes with daily obstacles.
06:49Power cuts...
06:50...poor connectivity...
06:51...and a cash-based economy.
06:54Syria has been operating...
06:55...the past 14 years...
06:56...in a bubble.
06:57So...
06:58...we were completely disconnected...
07:00...from everything outside...
07:01...and...
07:02...people are...
07:03...extremely creative...
07:04...and...
07:06...there's a unique...
07:07...problem-solving approach...
07:08...here.
07:10Bahila Hijazi...
07:11...is one of the people...
07:12...who returned to Syria...
07:13...from Germany...
07:14...to establish...
07:15...her startup...
07:16...Betty Bertac.
07:17It's building...
07:18...what looks like...
07:19...a Syrian Airbnb...
07:20...offering short stays...
07:21...in homes...
07:22...apartments...
07:23...villas...
07:23...and hotels.
07:24But for a project like this...
07:26...how can payments be handled?
07:28What we did in...
07:29...Betty Bertac...
07:30...is that...
07:31...we had...
07:32...an external entity...
07:33...outside...
07:34...we gather the...
07:35...the money...
07:36...outside...
07:37...of Syria...
07:38...so we have...
07:38...like...
07:39...a combination of...
07:40...cars...
07:41...online...
07:42...and...
07:43...and...
07:44...we developed...
07:45...our own...
07:46...APIs as well.
07:47For...
07:48...Clanalyze...
07:49...an AI tool...
07:50...designed to help...
07:51...entrepreneurs...
07:52...plan projects...
07:53...for the Syrian market...
07:53...the internet...
07:54...is a big challenge.
07:55What I do...
07:57...is I use...
07:58...for...
07:58...or G...
07:59...I don't have...
08:00...I don't use...
08:01...ADSL...
08:02...which is locally...
08:03...at home...
08:04...so that's what I do...
08:03...actually...
08:04...I don't...
08:05...think that...
08:06...all entrepreneurs...
08:07...have this...
08:08...access to the...
08:08...the internet...
08:09...unofficial estimates...
08:11...suggest Syria...
08:12...is still largely off...
08:13...offline...
08:14...with almost two-thirds...
08:15...of the population...
08:16...not connected...
08:17...and even for those...
08:18...who are...
08:18...the internet...
08:19...can be painfully...
08:20...slow...
08:21...according to the...
08:22...Minister of...
08:23...community...
08:23...communications...
08:24...and information...
08:25...technology...
08:26...Syria ranks...
08:27...227th...
08:28...out of...
08:28...229...
08:29...countries...
08:30...in broadband...
08:31...connectivity...
08:32...we launched...
08:33...the MVP...
08:33...of the app...
08:34...I don't remember...
08:35...the number...
08:36...exact...
08:37...but 40% of the reports...
08:38studies that were provided weren't able to finish analyzing
08:43because of the internet it wasn't fast enough to to analyze the data and load
08:48and plus one the electricity cuts off so the internet cuts off in a recent statement
08:53the minister announced the first phase of Ugarit 2 a project linked to an under
08:58the BBC cable route via Cyprus that will increase Syria's international internet capacity
09:03while the government talks infrastructure startups may do with whatever
09:08works serious tech ecosystem didn't grow like other countries
09:13the order is one of the few startups that managed to scale
09:18under assets regime delivering groceries and meals in Damascus and beyond
09:23the co-founder told us that the Assad government was always harassed
09:28the business trying to get a share we were able some
09:33how to cover uh to cover our let's call it numbers and operation just to protect our
09:38ourselves from them so they used to come and say okay we are following the number of the bags
09:43and now you have around 500 drivers we know it from like we don't you know
09:48these two number the bags by series one two three four five so we need to change this to
09:53different coding so they don't get how much orders we have
09:58now the big question is money with sanctions easing foreign investment can return
10:03and startups can finally scale beyond survival mode
10:08countries like saudi arabia and qatar are already pledging millions of dollars in investments
10:13to syria so in my point of view investors coming and people coming to syria
10:18uh will uh nourish planet lies and it will help um
10:22um
10:30you
10:32you
10:34you
10:36you
10:38you
10:40you
10:42you
10:44you
10:46you
10:51you
10:56you
11:22you
11:24the country's startups will build with what they have, but this time they're
11:28betting that the system
11:29will finally catch up.
11:34He made big promises.
11:39Even a new golden age for the U.S.
11:42But so far, he's uns...
11:44...settled key trading partners and sparked plenty of disruption.
11:48So let's...
11:49Let's take a look at the facts.
11:50After one year, what does his economic record show?
11:53And how is...
11:54What is the country doing on growth, unemployment, and job creation?
12:00Let's get back.
12:01Let's take a look.
12:04He promised the U.S. unprecedented growth and a new era.
12:09of prosperity.
12:14The golden age of America begins right now.
12:19A year into Trump's second term, the question is just how is the country doing?
12:24Where are things at in terms of growth, unemployment and new jobs?
12:29U.S. exports are up 2.5% compared to 2020.
12:34Hitting 302 billion U.S. dollars in October 2025 alone.
12:39Higher than for a long time.
12:41Nonetheless, in 2025, the economy grew.
12:44By only around 2%.
12:46No more than under Trump's predecessor, Joe Biden.
12:49So, if you take the entire year, one year of Donald Trump,
12:54the growth for our cars have been very much disappointing.
12:59Reports into the U.S. fell sharply in 2025 by well over 3%.
13:04Which was the president's intention.
13:06Unlike his predecessors, Trump slapped imports.
13:09The U.S. report tariffs of 15% plus on almost all foreign trading partners.
13:14This has brought the U.S. government around 300 billion.
13:19Cash that the White House says will be used to cut.
13:24National debt and ease the burden on citizens by lowering taxes.
13:29But with imports now declining, so is customs revenue.
13:34Another problem is access to specialised imports.
13:39The U.S. report products which, thanks to the tariffs,
13:41are either too expensive or unavailable.
13:44This affects everything from electrical and metal industries to chocolate producers.
13:49If the tariffs really drastically strangle my business and my...
13:54affordability of running this business, then I will have to look at...
13:59ending this.
14:01And when it comes to tackling the labour market...
14:04ending this, too, there are precious few signs of a golden age.
14:09Unemployment has remained at around 4% since the Trump administration took office.
14:14So far, it's not improved.
14:16In 2025, only around 600...
14:19100,000 new jobs were created, fewer than in 2024.
14:24However, it's a different story when it comes to the stock market.
14:29Prices have seen a strong upward trend for a year.
14:32And the S&P index is...
14:34well above 6,000 points.
14:36Good stock prices are important for many...
14:39U.S. citizens, as over 60% of the population invests in the market.
14:44For extra income?
14:45Or to prepare for retirement?
14:47The question is...
14:48How much of the money earned...
14:49and remains in the pockets of those people?
14:51As with previous President Joe Biden...
14:54the inflation rate is just under 3%, more than the 2% recommended...
14:59by the U.S. Federal Reserve.
15:02Finally...
15:04President Trump announced a wave of investment by foreign companies in the U.S.
15:09U.S. Federal Reserve.
15:10It won't be possible to assess the volume of this investment in new production lines until
15:13early...
15:142026.
15:15Experts, however, forecast it will go up.
15:19झाल
15:20बाल
15:24Economies everywhere depend on growth.
15:29But in many places, that growth is fueled by
15:34debt, and global debt levels have reached staggering heights.
15:39It's a heavy burden, costing countries enormous sums.
15:44Some are now on the brink of default.
15:47What risks does this create?
15:49Would it ultimately spark a global economic crisis?
15:54Global national debt is at its highest level.
15:59Since the end of the Second World War.
16:02Numerous countries have a massive...
16:04immense deaths, and some are already on the verge of bankruptcy.
16:09People around the world are also feeding the consequences.
16:12How can we get out of the debt trap?
16:14And what could lead to a new Great Depression like the one of nearly a century ago?
16:19So, just how high is global national debt?
16:24Right now in 2025, this is at a record high of...
16:29over $324 trillion US dollars, and that's more money than the whole world.
16:34that makes in a year.
16:35Many industrialized countries today are heavily...
16:39indebted.
16:40The decisive factor is the debt-to-GDP ratio.
16:43The proportion...
16:44of government debt compared to gross domestic product.
16:47The total value that a nation generates...
16:49rates each year.
16:50If the debt is at the same level as GDP...
16:54then the national debt is 100%.
16:57In many countries...
16:59this threshold has been reached, or even exceeded.
17:04among them are the US, Canada, and Venezuela.
17:07In Europe, Britain, France, Italy...
17:09and Greece...
17:10and in Asia, Japan.
17:14India, China, and Brazil, for example, are 75% to 100% indebted.
17:19And the figure is 50% to 75% in Germany and Poland.
17:23The rest of the...
17:24the nations have a national debt below 50%.
17:29A high level of debt limits a government's room for manoeuvre.
17:33For example...
17:34the US now pays almost $1 trillion a year in interest...
17:38which is roughly equivalent...
17:39to its defence budget.
17:42Many Western industrialised nations...
17:44are already in what economists call a debt spiral...
17:47meaning that repayments...
17:49are not enough to reduce debt...
17:51and in the meantime...
17:52new debt is added every year.
17:55Global debt now...
17:56Global debt now...
17:57is on a higher and steeper path.
17:59in other words...
18:00trajectory...
18:01than before the pandemic.
18:02With the fiscal monitor...
18:03project...
18:04that global public debt...
18:05will exceed 100% of GDP...
18:08by 2020...
18:09for the US.
18:10For example...
18:11general government debt...
18:12is projected to rise...
18:14above 140% of GDP by 2030.
18:19And this level of public debt is well above its historical peaks.
18:24But why is there so much national debt in the first place?
18:28Emergency measures...
18:29...taken to fight the COVID pandemic...
18:31...have cost countries around the world many trillions of US dollars.
18:34In addition, many countries are experiencing a wave of aging populations.
18:39Pensions and other social spending are on the rise.
18:42And the integration of migrants also...
18:44...cost billions.
18:45Then there are industrial subsidies such as those for the sea.
18:49The global arms race and wars.
18:54What happens when countries are on the verge of bankruptcy?
18:59Case in point, Greece, which came close to defaulting on its debt in 2010.
19:04After a loss of confidence in its solvency.
19:09During the European debt crisis, which started with the...
19:14...the Greek debt crisis, we had interest rates on Greek government...
19:19...debt of more than 10%, 20%.
19:24In order to finance their debt, emerging countries often pay...
19:27...higher risk premiums than industrial...
19:29...the globalized nations.
19:30This led, for example, to Ghana declaring insolvency in 2010.
19:34In 2022.
19:35They were spending over one third of all tax...
19:39...collected on interest payments alone.
19:41The tipping point towards national bank...
19:44...corruptcy varies.
19:45It depends not only on the level of debt, but also on economic growth.
19:49That is, the state's tax revenues.
19:52How do we escape the debt...
19:54...for the capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital capital
19:59strict budget management. In order to reduce national debt, a government
20:04will raise taxes, cut social benefits, and invest as little money as possible.
20:09Our governments throw a lot of money down.
20:14They don't need to grow down, and getting out of the regulatory way so that
20:19our economies can grow. That's what I hope especially Europe will do.
20:24But where else should governments reduce spending? Some economists are calling for
20:29cuts in unemployment benefits, pensions, and wages for national and local government staff.
20:34Reallocating 1% of GDP from these items to
20:39say public infrastructure that is productive can increase output by about one and a half to three
20:44and a half percent over the long term.
20:49They provide subsidies for projects that create new jobs.
20:52In transport, emerging industries...
20:54...and high-tech software and hardware companies. Projects that are intended to revive...
20:59...economic growth. The idea here is to generate more...
21:04...taxes to pay off debt and reduce costly unemployment.
21:09Could the high debt levels now carried by many countries cause a global economic crisis?
21:14One danger is that most countries do not have sufficient buffers.
21:19...or money reserves. And would have to save at the same time to avoid going bankrupt.
21:24In this tense situation, wars, energy crises or pandemics could...
21:29...trigger a wave of national bankruptcies, like the Great Depression that began in 1920...
21:34...in 1969.
21:36Shocks could come. We've learned from the pandemic...
21:39...we've learned from the global financial crisis that there's...
21:41...there's inevitability. You can have...
21:44...we don't know what those shocks are, but they can come.
21:47If several large economies run into...
21:49...to serious trouble at the same time, the ripple effects could be devastating...
21:53...triggering...
21:54...a global recession or even a full-blown global economic crisis.
21:59...and then it could be years...
22:02...before the...
22:04...the economic engine revs up again.
22:09...and then it could be of a Pulitzer.
22:11...and we could be...
22:12...like, other things can be...
22:13...discuitary, up-and-and-and-and-and-and-and-and-the-life.
22:14Some economies face problems of their own making.
22:18The United Kingdom is one.
22:19One example, experts had long warned of the economic consequences.
22:24Six years on, the impact is becoming increasing.
22:29Increasingly visible.
22:31British companies are struggling with bureaucracy.
22:34High costs, and weak growth.
22:39The world's finest cloth, that's what Pennine...
22:44Weavers in Yorkshire and the north of England aim to produce.
22:47Their fabrics find their way into...
22:49The luxury garments of designers like Burberry and Armani.
22:53Two-thirds of their sales...
22:54...are to European clients.
22:56Brexit has had a big impact on the small companies.
22:59There is no doubt that our product has become more expensive.
23:05Because of the fact of the extra layers of bureaucracy,
23:07the extra costs that businesses have had.
23:09To incur in dealing with all the paperwork, the shipping costs, the freight costs...
23:14It all adds up to costs.
23:16So, you know, we haven't lost any actual customers...
23:19...suggests that we have lost business.
23:23Since Brexit, it also...
23:24It also takes longer to get spare parts from the continent whenever a machine breaks down.
23:29Weavers' productivity has taken a hit.
23:33The UK private...
23:34Prime Minister Keir Starmer is negotiating closer economic ties with the EU.
23:38He calls...
23:39He calls it a reset.
23:40The British Chambers of Commerce are now calling on the government to be more...
23:44ambitious.
23:45Exporters of food or agricultural products in particular have found a new...
23:49bureaucratic obstacles for cross-border trade too much to deal with.
23:54Some have stopped trading with the EU altogether.
23:57We want to see very...
23:59clear deals done, deals that shift the dial in terms of...
24:04...quicker, simpler, cheaper trade with the EU.
24:08Firms are...
24:09Tired of some of the costs, particularly agri-food companies.
24:12The extra...
24:14extra burdens and delays, loss of product, additional costs...
24:19...from export health certificates.
24:22The EU remains the UK's...
24:24largest trading partner.
24:25But trade intensity has dropped significantly since Brexit.
24:29And with the end of free movement, European talent is lacking in the UK.
24:34the British Chambers of Commerce.
24:35They are calling for the government to finalise a youth...
24:39stability scheme that would allow young Europeans into the country for a limited time.
24:44What business has been telling us over the last five years is that they are seeing skills...
24:49shortages.
24:50They've been telling us about the difficulties of being able to deal...
24:54with the visa system to get highly qualified applicants from the EU into...
24:59...posts and vacancies that are here in the UK.
25:02And we hear the same from EU...
25:04employers as well.
25:05Until there are significant improvements in the...
25:09relationship with the EU, exporters like Pennine Weavers are holding back and back.
25:14investments.
25:15The investment decisions in this business, they're very large numbers.
25:19We have to have that confidence and unfortunately Brexit has taken away that confidence in...
25:24our ability to and our will to invest back into the business with capital machinery.
25:29Brexit continues to impact not only Pennine Weavers but a whole...
25:34British economy.
25:35The pressure on the government to push through and finalise their reset with...
25:39the EU is growing.
25:40That's it.
25:44for another edition of Maid.
25:45We looked at the aviation industry...
25:46We looked at the aviation industry...
25:49the challenges facing Syria's startup scene...
25:52the Trump administration...
25:53the Trump administration...
25:54the Trump administration...
25:54economic record after one year of its second term...
25:57and how much debt...
25:59a country can realistically bear.
26:01See you next time and take care.
26:04We'll see you next time and see you next time.
26:09We'll see you next time.
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