Europe's industrial woes are not caused by global imbalances
By
The Economist
6d ago· 1 min readenOpinion
Summary
European leaders are blaming global economic imbalances for the continent's industrial struggles, but the article argues this is a misguided excuse. It points out that the EU, like China, is itself a surplus economy, suggesting the real problems lie elsewhere and that blaming external factors distracts from internal issues.
Source
bskyEurope's industrial woes are not caused by global imbalancesecon.stKey quotes
· 3 pulled"Some countries produce too much and do not consume enough, and vice versa," moans Ursula von der Leyen, president of the European Commission.
Friedrich Merz, Germany's chancellor, complains about competing with those who invoice in undervalued currencies.
The EU has forgotten that it, like China, is a surplus economy
The EU has forgotten that it, like China, is a surplus economy
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