German Media: The EU Must Protect Its Indigenous Industries
The commentary in *Die Welt* states that if the EU continues to ignore the protection of its domestic industries, it will become increasingly dependent on China.
The commentary in *Die Welt* reads:
"The EU must refocus on its core mission as the driving force behind European economic policy. Looking back at the EU's predecessors—whether the initial European Coal and Steel Community or the later European Economic Community—they all shared a clear vision: joint economic development. It was precisely this vision that propelled Europe’s subsequent robust growth: trade, expansion, employment, and prosperity.
If the EU returns to its original purpose at founding, it can once again become a significant player in global competition. To achieve this, the EU must redefine its role and remain faithful to it: first, European institutions must swiftly take action to protect domestic industries from competitive pressure posed by foreign companies receiving subsidies. The principle of open markets still holds, but only under conditions of fair competition. Consider a real case: the European Recovery Fund allocated 192 billion euros to Italy, with 70 billion coming from Germany—but this money ultimately ended up being used to purchase cheap tunnel boring machines from China. This clearly reveals a fundamental flaw within one aspect of the EU.
These funds could have been used to improve our infrastructure, yet instead they ended up serving as payment for controversial Chinese products. Such operational mechanisms must be stopped immediately."
Original source: toutiao.com/article/1870669366017100/
Disclaimer: The views expressed in this article are those of the author alone.