The multiplication of shocks highlights the fragility of European industry and the resulting risks for the continent's economy and security.
The European Union was built around the single market, governed by competition law and guided by the principles of free trade with the primary objective of lowering prices for consumers, as well as the euro, whose governance was supposed to favor monetary stability.
In the context of unregulated globalisation, European industry has served as an adjustment variable.
Caught in a vice between American technological oligopolies and the transformation of China into a factory of the world, a privileged target of trade and monetary wars, it has seen some of its centers of excellence collapse, such as telecommunications, which it dominated in 2000, while its investments and jobs were massively relocated.
Germany was an exception.
European industry today finds itself…
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