Euro zone: Beware of the new industrial shock

The deindustrialisation of the euro zone is reducing productivity gains, potential growth and the standard of living. Unfortunately, another deindustrialisation shock is now coming: Due to the decline in global demand for capital goods, linked to the gradual transformation of the world into a service economy; Due to the foreseeable automotive sector crisis linked to the rapid shift to electric cars; Due to the weakening of the "industries of the past" (chemicals) in Europe; And still due to the euro zone’s cost competitiveness disadvantage against emerging countries.