The only possible strategy for French industry is to move up the value chain; unfortunately, it is not being implemented

France is characterised by high labour costs and low labour force skills, in particular among the low-skilled. It is therefore impossible to imagine France being competitive for labour-intensive industries at the lower end or middle of the value chain. This explains the low level of manufacturing employment and the high level of productivity in French industry. French industry therefore has no choice but to move up the value chain. Unfortunately, with a few exceptions (aerospace, luxury goods, pharmaceuticals), this move up the value chain has not taken place. This is a major disadvantage at a time of talk about industrial reshoring.