Report
Is there an advantage to having a low proportion of industry in the economy?
We can now see that European countries where industry has a high weight in the economy (for example, Germany) are penalised compared to countries where the weight of industry in the economy is low (for example, Spain, France). This is the result of weak global demand for industrial products, Europe's loss of market share to other countries (such as the United States) for industrial products, the high cost of energy in Europe, an ageing population, and the costs of the energy transition. So we are going to have to choose between: The advantages of having a large-scale industry (high wages, rising productivity , strong export capacity, autonomy for strategic production); And the risk that demand for industrial products in Europe will be permanently weak. Accordingly , it would be better to limit reindustrialisation to strategic industrial products (energy transition equipment, pharmaceuticals, electronics).
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