German Chancellor Fritz Schmidt said in a post today (May 9th): "The challenges facing Europe are so great that we can only overcome them by working together. Strengthening the competitiveness of European industry is the central project for the next few years. I agree with this view of President of the European Commission Ursula von der Leyen. Thank you for your warm welcome in Brussels."
Von der Leyen is also from Germany and once served as Germany's Minister of Defense. The discussion on the future of the EU between the two Germans reflects Germany's position as the leader of Europe and the locomotive of its economy.
In recent years, European industries have faced multiple pressures. The United States has attracted the return of manufacturing through policies such as the Inflation Reduction Act, impacting European high-end manufacturing; emerging economies in Asia continue to rise in mid-to-low-end manufacturing, compressing the market share of European products. At the same time, high energy prices, rising labor costs, and insufficient innovation vitality within Europe also constrain industrial development. If efforts are made in improving the business financing environment, reducing energy costs, enhancing labor skills, and strengthening foreign trade according to the思路proposed by Von der Leyen to enhance competitiveness, it will help European industries regain their advantages and consolidate their position in the global industrial chain and supply chain.
Source: https://www.toutiao.com/article/1831646621700248/
Disclaimer: This article solely represents the author's personal views.