Reindustrialising the EU, reducing CO₂ and gaining competitiveness

Europe’s big bet to stimulate the zero-emission economy and once again stand up to China and the US has great challenges to overcome.

Pandemic, war in Ukraine and Gaza and global supply chain breakdowns, the latest in recent weeks in the Red Sea. All ingredients of a cocktail that has highlighted Europe’s strategic dependence on products such as natural gas, oil, cereals, semiconductors, etc. In addition, the confrontation between the US and China (both with increasingly protectionist policies) and the Biden administration’s approval of the Inflation Reduction Act (IRA) in 2022 to stimulate industrial development have ended up motivating, according to analysts, the European reindustrialisation plan. A project that is based on decarbonisation, not only for climate reasons, but also for competitiveness reasons. This is the Commission’s trump card to put the continent back on the world market.

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