What are the real threats facing the French economy?

Investors are very negative about France, as they are for the euro zone as a whole. But are there serious, well-founded reasons to worry about the French economy? We see four serious areas of concern: The decline of “old industry” (cars, industrial capital goods, basic chemicals) due to environmental constraints and the global contraction of industry; Declining competitiveness and profitability due to accelerati ng labour costs; The appearance of household precautionary savings; The slowdown in global trade, which is curbing exports, the share of which in French GDP is high.