Harry G. Broadman: Blocking Siemens-Alstom rail merger was in the EU’s public interest

Harry G. Broadman

Harry G. Broadman is a global authority on international finance, investment and trade, opined that the proposed Siemens-Alstom rail merger may not be the best strategy to compete with other countries.

At first glance, the proposed merger between Germany’s Siemens and France’s Alstom to fight off the future intrusion of the giant state-owned Chinese rail industry into the European Union market might appear to be in the public interest. After all, what better way to combat size than to scale up.

The EU Competition Commissioner, Margrethe Vestager, had the wisdom — if not the courage — to make the correct call in blocking Siemen’s acquisition of Alstom.

While competing against firms from China is becoming tough going in virtually every sector across the globe — in large part because Chinese enterprises can get away by not having to play by the same rules as most businesses of other nationalities — sound public policy must be based on deftly balancing the welfare of a country’s consumers, workers, and businesses.

The fact is that businesses and the governments of the countries in which they operate need more innovative strategies to compete effectively with the Chinese — or anyone else — than simply increasing scale.

Siemens and Alstom could also avail themselves of a variety of best-in-Class One-off competitive co-investment corporate strategies to potentially team up on specific projects, if that’s what it takes to out-compete other firms — regardless of their nationalities.

Read the rest of the Harry G. Broadman’s article here.

Harry G. Broadman

For thirty-six years, Harry G. Broadman has been an expert practitioner in international finance, investment and trade, business growth, risk-mitigation, innovation strategy, and corporate governance reform. One of the earliest serial entrepreneurs, he’s re-invented himself more than a handful of times not only in an interdisciplinary fashion but also across greatly differentiated senior roles in the private sector, interspersed with stints as a high-level policy maker.

Harry G. Broadman has emerged as a genuine thought-leader on the unforeseen dynamics that have changed the underlying structure and character of world markets—long before the term “globalization” was commonplace. Harry has worked on-the-ground with businesses large and small in more than 65 such countries across 5 continents.

Harry G. Broadman is currently CEO and Managing Partner of Proa Global Partners LLC, a global investment transaction strategy firm and on the Johns Hopkins University faculty. His past positions include:

  • Senior Managing Director and Chief Economist at PricewaterhouseCoopers (PwC)
  • Managing Director at Albright Capital Management (Investment Committee)
  • senior official at the World Bank
  • Chief of Staff of the President’s Council of Economic Advisers in the White House
  • United States Assistant Trade Representative
  • faculty member at Harvard University
  • fellow at the Brookings Institution

Harry’s insights on business, innovation, political risks and economic trends are also featured in several publications. He is a monthly columnist for Forbes, Newsweek International and Gulf News. He has also authored several books and numerous professional articles published in a wide array of peer-reviewed economics, law, and foreign policy journals. His most recent books are the World Bank’s best-selling; Africa’s Silk Road: China and India’s New Economic Frontier; From Disintegration to Reintegration: Russia and the Former Soviet Union in the Global Economy; and The State As Shareholder: China’s Management of Enterprise Assets.

Harry G. Broadman received an A.B. in economics and history, magna cum laude, from Brown University, where he was elected to Phi Beta Kappa, and an A.M. and Ph.D. in economics from the University of Michigan. He is a lifetime member of the Council on Foreign Relations, a member of The Bretton Woods Committee, and is a non-executive Director on several boards.

Harry’s speaking topics include:

  • Just Where Is The Growth in the Global Economy?
  • Will China’s ‘One-Belt, One Road’, Become ‘A Bridge to Nowhere’?
  • Trump’s ‘Threatenomics’ Targets Mexico
  • Is This Globalization 2.0; or 3.0?
  • Infrastructure May Not Be Sexy, But Bring Sexy Back
  • India Is The Tortoise To China’s Hare
  • Brexit Is The UK’s Gift To A Revitalized EU
  • Africa Is Becoming Silicon Valley 2.0
  • Will Putin Succeed in Recreating the Soviet Empire?
  • Do Corporate Social Responsibility Programs Actually Pay Off?

Contact us if you would like Harry G. Broadman to speak at your next business event.