It is all too easy to question history or “common religion” rather than work to address structural issues.
There are at least some clues that lead us to believe that we are at a critical moment. First, Mario Draghi presents his Competitiveness Report, a 393-page slog of data and ideas for a Europe that is re-competing with the US and China. But in the end, almost all of the commentary focuses on his proposal to find $800 billion in investments a year to relaunch the old continent. Partly with “shared debt.” The Germans, who are allergic to the word “debt,” immediately called themselves out. But there is another clue, linked to a date: 2035.
We know her well now. Europe has set this date as the deadline for the sale of cars with internal combustion engines. A term used as a pretext to question the EU’s Green Deal strategy which has been defined as “ideological”. It will also be about ideology. The deadlines could be renegotiated. But Ignoring the fact that more than one alarm bell is ringing in Europe is short-sighted.In 2000, China produced 4% of the world’s cars and Europe 31%. In 2022, Europe has halved its production (15%), and China has reached 32%. The comparison with electric cars is even more depressing. Draghi suggests in his report: Develop an industrial plan for the sector by increasing horizontal and vertical integration in the value chain.. In addition to a list that includes a technology neutrality approach to reach zero emissions.
Public and private investments
But unfortunately, it is easier to question history or “common debt” than to work on addressing structural issues. Even with the $800 billion that has been presented as a huge number, there would be a lot to say given that 80% of investments in Europe are made by individuals, and only 20% by the public sector. That means we are talking about $160 billion attributable to the EU. In her appointment letters to the proposed commissioners, Ursula von der Leyen referred to the Draghi report as one of the pillars of the new policies. It is a technical report. It certainly deserves discussion. But it should not be used as an excuse for procrastination and doing nothing or doing little.
Download the new L’Economia app for a personalized, ad-free experience.
Thanks forartificial intelligence Articles and tips from Experts From Corriere della Sera answers your doubts about Home, Taxes, Savings, Pensions Not only that; in addition to real-time news, the best signatures and everything that could be more useful to you. A simpler, more enlightened life.
Subscribe to the Economia newsletter
Ideas by Ferruccio de Bortoli and Daniele Manca
Facts and people read through the lens of economics.
Don’t forget the newsletters.
Opinions on Economics and Economics 6pm
“Internet trailblazer. Travelaholic. Passionate social media evangelist. Tv advocate.”
