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It must be said again that France's problem is its competitiveness against the other euro-zone countries
In France, globalisation and the opening up of trade with emerging countries are often criticised and blamed for deindustrialisation and the resulting social tension. Increased protection against imports from emerging countries is often proposed as a solution. But this analysis does not take into account the observed reality: the deterioration in France's foreign trade is mainly with the euro-zone countries, and almost not with emerging countries (France's exports to emerging countries have increased as much as its imports from these countries). France’s deindustrialisation therefore stems from a competitiveness problem (high labour costs, low population skills, insufficient modernisation of companies, etc.) against the other euro-zone countries, and therefore from France’s structural problems, not globalisation.
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Natixis
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Patrick Artus
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