Europe faces industrial wipe-out

February 28, 2024/in /by Rudolf Huber

North American re-industrialization won’t go without trouble and hiccups but it is underway and is underpinned by cheap and reliable energy as well as still quite some innovation at its very heart. Asia is going through shock and awe – especially China – but they are hard to beat in the race to the bottom. The question is: do we really want to beat them? We might have to. Because soft loans and tariffs only make things in Europe more expensive for consumers fueling inflation even more. And there is little appetite for more of that in the electorate now. Some small countries will become service and/or tourism hotspots. But the big economies, especially Germany can’t do that. Things will get nasty very fast.

By Paul Homewood In the United States, there are massive subsidies. In China, there is an industrial strategy pursued with ruthless effectiveness. And yet in Europe, there are just “d…

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