Beijing-Sana
The Chinese newspaper, Global Times, confirmed that Europe faces an existential threat by being drawn into the Ukrainian crisis, noting the decline of the industrial sector, which is suffering from high energy prices and inflation.
In today's article, the newspaper stated that the current energy crisis poses a real existential threat to industry in Europe, and that the European Union is unable to help itself;
Because he has no influence on the Ukrainian issue, while the United States is in no hurry to intervene and help the allies, pointing out that the increase in bills due to high energy prices and high inflation will lead to a shortage of industrial raw materials in Europe, including minerals.
The newspaper added: This will be followed by a decline in profits, which will lead to problems in institutions, which will be reflected in the entire manufacturing industry in Europe, noting that Western countries are facing an unprecedented rise in energy prices and historical inflation rates;
As a result of the sanctions against Russia and the retaliatory sanctions imposed by Moscow.
The newspaper pointed out that the industry in the West has largely lost its competitive advantages;
As a result of the rise in fuel prices, especially gas, which began to affect other sectors of the economy.
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