In the context of globalisation, effective rules can only be agreed on an international scale. What the experience of our German economic system, the social market economy, has taught us is that markets need to operate according to certain rules. Yet we still have a lot to learn in this area. However, I believe that if we can embrace it with openness and curiosity, mindful of the world’s diversity, we can shape globalisation in a positive way.
In highly industrialised countries we, too, are concerned with the question of what globalisation means for us. The next step, I believe, must be to implement such standards really quickly, not only within the context of the G20 but maybe also in countries like Switzerland – I was talking to the President of the Swiss Confederation about this only yesterday – so that we can increase the transfer of information and make the tax system fairer. The OECD’s role in defining standards in this area should not be underestimated. The subject of base erosion and profit shifting is now being addressed. Many people wonder how it is possible for companies not to pay any taxes in the countries where they create their value. But one example which shows that we are really making practical progress – I find it a very good thing and can only encourage Australia, too, to discuss it further – is the issue of corporate taxation. It would doubtless have to be constructed piecemeal, chapter by chapter. I would still like to think that the lesson we have learned from the financial crisis could inspire us to formulate a charter for sustainable growth – and I would like to thank the OECD for its support for this idea. For in my opinion it has become a very interesting format which, in cooperation with regional economic organisations, provides us with a broad picture of the global economic system. Since then, everything has gone quiet on the subject. Then suddenly the financial crisis hit, and soon after we had the G20. At the time we spent endless hours discussing whether it should be G13 or G15. With the Heiligendamm Process we sought to find a way out of a situation in which the G8 could no longer be the only format. From the standpoint of an EU Member State we have basically weathered two major crises since 2007: first the international financial crisis, followed by the euro or sovereign debt crisis, from which we have not yet fully emerged. That is why the global organisations played such an important role as advisors during the crises of recent years and continue to do so today. The issues here are structural reforms and coherent global economic growth. They have therefore become a truly important tool for us.
Over the years, we have been able to see a steady improvement in our performance in the PISA studies. But having to acknowledge that we were not as good as we thought we were in a field that comprises the core of our self-esteem, in education, really inspired change in Germany. For example, the initial results of the PISA studies were not exactly flattering for us. Criticism from the OECD is perceived as being relatively harsh in Germany. The OECD has acquired a high reputation as an uncompromising but important advisor when it comes to drawing comparisons, compiling statistics and issuing recommendations.
Your own country, Mexico, as an emerging economy, has been a member for 20 years. Accession negotiations are under way with Russia, and the OECD has begun an accession process with Colombia. In recent years the OECD has successfully managed to shake off its image as an elite organisation for developed, industrialised countries simply through its involvement in G20 meetings and through the fact that new Member States have joined the Organisation. I think that we, Germany, have also done our part in helping the OECD, alongside other international organisations, to play an important role in the new formats for cooperation in the world. The OECD has been an important player in international economic policy for over 50 years.
I promised Ángel Gurría a long time ago that I would visit the OECD. Gurría, Ángel, Excellencies, Ladies and gentlemen,