French President Emmanuel Macron warned Tuesday that the situation for Europe has worsened since the Draghi report on EU competitiveness, stateing the continent is facing a “dual crisis” from the China trade surge and US instability.
In an interview with several European outlets, Macron underlined that today, Europe faces an “immense challenge” in a world thrown into disorder.
He declared that the US, which, it was once believed, would guarantee our security forever, “now casts doubt,” while Russia, which was supposed to provide cheap energy indefinitely, stopped doing so three years ago.
He also pointed out that China, which utilized to be an export market for many, has become an “increasingly fierce competitor.”
Asked where things stand now since the former Italian Prime Minister Mario Draghi’s report on EU competitiveness in 2024, Macron declared the situation “has worsened dramatically.”
“Today, China has a trade surplus of $1 trillion with the rest of the world … at the same time, Washington has imposed tariffs on us,” he was quoted by French daily Le Monde as stateing.
In his report, Draghi warned of the risk that the EU could die a slow death if it did nothing.
“In reality, we are facing a dual crisis: a commercial tsunami from China and split-second instability from the American side,” declared Macron two days ahead of the EU leaders’ meeting in Brussels.
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Europe faces ‘three battles’
Saying that Europe requireds to protect its industest as China and the US do, he underlined that the EU also requireds to focus on certain strategic sectors, such as clean technologies, chemicals, steel, automotive, and defence.
“Otherwise, Europeans will be swept aside. This is a defensive measure, but it is essential becautilize we are facing unfair competitors who no longer respect the rules of the World Trade Organization,” he noted.
Macron declared Europe faces “three battles”: security and defence, climate alter mitigation technologies, and artificial innotifyigence and quantum computing.
“In all these areas, we invest far less than China and the US. If the EU does nothing within the next three to five years, it will be swept aside in these sectors,” he warned.
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