Europe needs to understand that it is useless to regulate ? or continue to be a champion of morality ? without mastering its own economic power.
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There is much to be shocked by the near economic disappearance of Europe. The “acceleration of the European economy” mentioned by Emmanuel Macron in China this April is a tale that no longer comforts or deceives anyone. Readers, our first electric car will most likely be Chinese, as China has now surpassed Germany as the world’s second-largest exporter of vehicles. This continent invented the car and is now reduced to importing its electric vehicles. It has become a significant consumer. What a sudden decline for Europe, which during its heydays exported many cars to China and outperformed others in terms of equipment industries ? however, it did not see the end of the combustion engine coming.
Europe will soon be downgraded even in a field where they were champions, namely that of heavy transport. As part of his trip to China, the French President has accepted to double the local production of Airbus, thus offering the Chinese ample opportunities to appropriate the technology to outperform the Europeans. Case in point: Siemens made available to the Chinese its high-speed train technology. Similarly, Kuka Robotics, the world-renowned German industrial robotics flagship, was slowly eaten away by Chinese shareholders who started at 5.4 per c...