Has Europe suffered from globalisation?

Europe’s problems have often been attributed to globalisation: deindustrialisation and the resulting decline in living standards, labour market polarisation and inequality, etc. But is globalisation really the cause of these problems?  We look at the various possible effects of globalisation on the euro-zone economy: The fall in industrial value added and in manufacturing jobs caused by the deterioration in foreign trade with emerging countries; The downward pressure on wages due to competition with low-labour-cost emerging countries;  The decline in prices and the rise in purchasing power caused by the increase in imports from emerging countries. The last effect, which is positive, almost entirely offsets the first two effects, which are negative: it is not true that globalisation has significantly reduced purchasing power on the whole in the euro zone. But it has given rise to redistributive effects that have been negative for wage earners in industry who have lost their jobs. These effects may explain the rejection of globalisation despite its overall positive effect .