The CDU's pick for Germany's next leader has had a political career of two halves. CGTN's Natalie Carney reports from Munich.
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00:00Former corporate lawyer Friedrich Merz began his political career in 1989,
00:05but it wasn't until 2022 that he was elected the leader of Germany's center-right Christian Democratic Union Party,
00:12promising a decisive break with former Chancellor Angela Merkel's centrist line.
00:17With the rise of far-right movements across Europe,
00:20Merz's more conservative politics resonated with a larger electorate.
00:25One of the biggest challenges now is to stimulate fiscal growth in Europe's largest economy.
00:30He wants to strengthen industry, cut bureaucracy and continue supporting a free market.
00:35Some say this is welcome news for German companies that have lost trust in the country's business environment and sent some overseas.
00:43Expectations in industry have shot up significantly.
00:46Looking back, the greatest wish of companies was always more clarity in economic policy.
00:51The industry or the economy overall will be satisfied with the outcome of the election, at least in view of the clear majority.
00:57There is probably a clear coalition option, and if they come to an agreement now, I think companies will be happy.
01:03At the same time, Merz wants to reform Germany's welfare state,
01:07favoring incentives to get people working over government benefits,
01:11while also looking to lower taxes, including for the wealthy.
01:15This proved controversial during the election campaign.
01:18Mr. Merz wants to give people who earn as much as he and I do, or much more, a $21 billion tax cut.
01:24$89,000 for a DAX board member, but just $10.50 per month for a saleswoman? That's not right.
01:32Merz is a strong proponent of the country's debt break,
01:35a constitutional rule that limits government borrowing except in emergencies.
01:40That allowed outgoing Chancellor Olaf Scholz to borrow more to finance defense projects and energy subsidies.
01:47Merz's financial conservatism has put him at odds with the center-left parties and potential coalition partners,
01:54who argue for more financial flexibility to fund key public investments.
01:59One of the most common criticisms of Frederick Merz is that he is often seen as an elite figure,
02:04out of touch with the everyday concerns of regular Germans.
02:08Merz has also been accused of being too conservative on social issues,
02:12a position that some view as out of step with modern Germany.
02:16The election win for Merz's conservatives and a likely return to a grand coalition with the Social Democrats
02:22has eased concern of political deadlock.
02:25But this raises questions about how far and fast Merz will be able to push his financial reform agenda
02:31to revive Germany's economic growth.
02:34Natalie Carney, CGTN, Munich.