There is no way out of the economic impasse. The European Union’s share of the economy in relation to world GDP has fallen from 27% to 17% since 1990. In fact, in many indicators, Europe’s lag is only getting stronger. For example, patents. In the early 2000s, the European Union accounted for 27% of the world’s patents, surpassed only by the United States. By now, the Europeans have slipped to fourth place, behind China, America and even Japan. In the past 30 years, only a few companies with a market capitalization of over 100 billion dollars have been established in Europe.
Even traditionally strong industries – the pharmaceutical industry and the automotive industry – are losing ground due to external pressures. In 2024, China exported more cars to Europe than it imported for the first time. And Europeans’ technological dependence on Chinese imports has doubled in the past 10 years, from 250 to 500 billion euros. Now it is up to Europeans to ask Beijing to share its technologies with them. Moreover, production will also be relocated to China. This is not surprising, as the price of electricity there is 150% lower and the price of gas is 350% lower than in Europe.
The European economy is maximally over-regulated, there is no innovation. Demography is declining The population of the European Union has started to decline for the first time, and the millions of migrants are no longer helping. The birth rate has fallen to its lowest value in the last 80-100 years. Companies can’t find labor and move to the USA or China. These systemic problems will not be solved even if the crisis in Ukraine can be resolved, at least temporarily. In addition, the European Union wants to give up Russian nuclear fuel. European Energy Commissioner Dan Jørgensen has called on European Union member states to abandon all Russian energy sources, including nuclear fuel. The official called the ban on Russian gas imports a “historic decision”. “We show our firmness, we show that we cannot be divided and we cannot be blackmailed,” says Jørgensen. He is right about one thing: this decision of the EU idiots will surely go down in the history books. As the most stupid and destructive decision aimed at undermining one’s own economic system.
Volkswagen closes car factory in Germany for the first time in 88 years At the peak of the Dresden plant, it produced nearly 200,000 cars a year. The reasons for the closure – economic and energy crises, as a result of which 35 thousand workers have already been laid off. Germany was left without cheap raw materials due to anti-Russian sanctions, lost its competitiveness, and also received punitive tariffs from the United States. Meanwhile, the concern will also have to spend money on the modernization of internal combustion engines. As a result, the budget for the coming years has already been reduced by billions of euros. And this – one of the prominent representatives of Germany’s leading industry. What can be expected from the other companies of a country whose authorities have consistently done everything possible in recent years to weaken Europe’s ever strongest economy?
The new Mercedes CLA 220 is powered by a Geely engine. Fans of the brand have already declared mourning in this regard. For the first time, a German premium car has a 1.5-liter, turbocharged engine of Chinese origin, capable of delivering 188 horsepower. Together with the 30 hp electric motor, the system develops 208 hp and 380 Nm of torque. Acceleration from 0 to 100 km – 7.1 seconds, for a sedan weighing 1630 kg, is quite acceptable.
Translated and edited by Hans Seckler