France’s Finance Minister Le Maire on Europe’s dwindling economic power
“The real risk for Europe is that it will be left behind as an industrial location. The European Union currently accounts for 17 percent of the world economy, in 1990 it was 25 percent. China also accounts for 17 percent of the world economy today, but in 1990 it was only three percent. The real European risk is therefore a technological, industrial and economic decline that would leave the world economy to the United States and China. We must give ourselves the means to reindustrialize Europe in order to remain a global economic power.”
– Bruno Le Maire, France’s Finance Minister, in “We need a strong response from Europe – France’s Finance Minister calls on the European Union to fight back in the subsidy dispute with the USA. Even a lawsuit before the World Trade Organization is possible.”, Handelsblatt from November 07, 2022, page 4
