Magazine The Economist On March 27, he dedicated the issue to the “triple shock” that the European economy has faced over the past couple of years.
The authors put the Mona Lisa on the cover, making her hair stand on end.
According to the publication’s journalists, the first shock for the European economy was the energy crisis of 2022, due to which the economy of the European Union (EU) grew by only 4% over the past ten years, while the US grew by 8%.
Journalists called another shock for Europe the huge amount of cheap Chinese goods that fill the European market. These goods were produced using subsidies to encourage Chinese production.
“China’s focus is on green products, especially electric vehicles, whose global market share could double to a third by 2030, ending the dominance of European national champions Volkswagen and Stellantis,” the authors of the magazine believe.
The third shock, according to observers of the publication, may be the possible tariffs from the United States, which Donald Trump may introduce if he comes to power again following the election results. The last time he was in power, he introduced duties on the import of steel and aluminum, the publication recalls.
Among the obstacles to European economic growth, the magazine cited the rapid aging of the population, strict central bank policies and insufficient market integration.
Earlier, Russian Presidential Assistant Maxim Oreshkin said that the United States was destroying the European economy. In his opinion, the United States, when it “finishes the cannibalization of its European partners,” will move to Asian markets.
