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Article: Industrial waste. (East German economic conditions) (The New Germany)
- Article from:
- The Economist (US)
- Article date:
- June 30, 1990
- Author:
CopyrightCOPYRIGHT 1990 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MR GERHARD POHL, the East German economics minister, says that his ministry has reviewed 3,000 East German companies and found that 30% are capable of competing in the open market, 50% need overhauling to survive and 20% are doomed to bankruptcy. Conversations with East German businessmen suggest that he is optimistic.
In a battered suburb of Dresden, Mr Harry Strohbach of VEB Prefo, leads a company now fighting for its life: VEB stands for Volkseigene Betrieb or People's business. He has 800 toymakers working in six plants. Because the original Dresden plant had made weapons, it was emptied by the Russians of equipment and put into state hands after the war. The ...