‘Executives at Volkswagen, a symbol of Germany’s industrial prowess, have declared an intention to close domestic factories for the first time in the company’s history.’‘Executives at Volkswagen, a symbol of Germany’s industrial prowess, have declared an intention to close domestic factories for the first time in the company’s history.
This route, however, will create its own problems. A trade war with China will inevitably have damaging consequences for European exporters. That’s why Germany has opposed the planned tariffs. And taking action to keep cheap Chinese EVs out of the European market will do nothing to boost consumer demand – in a sector fundamental to the green transition.that defined her first term.
Brussels and proactive national governments should take the lead through a combination of subsidies and investment at scale to sustain industry and consumer confidence. This was the spirit of anby Mario Draghi, the former European Central Bank president, published last month. Yet as the EU reintroduces tight fiscal rules on national spending, the trajectory of policy is being determined by a shortsighted focus on balancing the books.