Has globalisation been bad for the euro zone?

There is often talk of the imbalances that globalisation has allegedly caused in the euro zone: manufacturing job losses, dependence on other countries for strategic production (including central European countries, as we look at the euro zone), declining wages due to cost competition. But before passing judgement, it is important to examine: The evolution of trade in industrial products between the euro zone and the rest of the world or emerging countries; The nature of trade: how sophisticated are imports and exports? The effect of globalisation on inflation and wages; The origin of the manufacturing job losses. Altogether, it can probably be concluded that at the macroeconomic level, globalisation has not been bad for the euro zone: The trade surplus in industrial products and the very small trade deficit with emerging countries show that the decline in manufacturing employment is explained by productivity gains and not by trade with emerging countries ; The euro zone is specialised above all in high-end goods; Globalisation has increased purchasing power by 3 % and has weakened wages relative to productivity only very slightly (by 2% over 22 years) .