alt Hacker NewsIt's quite funny how Trump is killing European industry. Literally everything America has been doing the last few years has benefited China.
The Chinese economy has real weaknesses make no mistake about it and a competent US leader could have worked with his global allies to exploit them.
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As an European, trust me, Trump has little to do with it.
We've been doing fine championing our nationalism instead of creating a strong internal market.
Because Hungarians decide in Hungary and Spaniards in Spain doing business across Europe is still very tough.
So to transport anything from Austria to Hungary you need to fill all the kind of paperwork and find the appropriate codes. And to sell it, even more complicated. And taxation? Don't get me started.
And it doesn't help most of our economies are all export economies, which is a broken economic model where you just keep hemorraging stuff and your people stays relatively poor.
They started that path to economic suicide by deciding they don't want cheap gas as well as shutting down reactors. Well, depending on your geopolitical beliefs, entire situation was possibility coordinated to get Europe on American LNG and off the stuff piped from Rusland and the Middle East. This was all in play well before Orange Man, but wow did he push the gas pedal down and accelerate it (pun intended). BTW there's only one way out of it, but many Europeans aren't going to like the medicine nor the global primacy people running the USA.
Looking at physical markers Europe has been in degrowth for 20 years, less things produced, less sqm of new building, less tonnes transported by freight, the GDP is saved by maths tricks and hopium