Emanuele Orsini, the president of Confindustria, has issued a stark warning to Europe, urging it to change its pace or risk being 'crushed' in the global economic arena. Speaking at the Trento Economics Festival, Orsini highlighted the need for quicker decision-making processes within the European Union to maintain competitiveness. He pointed out the disparity in investments in big tech and artificial intelligence between the EU, the US, and China, emphasizing the urgency for Europe to bridge this gap swiftly.
Orsini also called for stable governments across Europe to enable long-term economic planning and policies. He stressed the importance of such stability in providing definitive answers to the industrial sector's challenges, especially in the aftermath of the Covid-19 pandemic and the current stagnation in industrial production. According to Orsini, the lack of political stability hampers the ability to implement necessary reforms and support measures for industries.
The Confindustria president did not shy away from addressing specific industrial concerns, such as the future of the Ilva steel plant in Taranto. He warned that without adequate protection and support, Italy and Europe might be forced to import steel from abroad, undermining the continent's industrial autonomy. Orsini's remarks underscore the broader challenge facing Europe: the need to safeguard its industrial base while navigating the complexities of global trade tensions and technological competition.
As Europe grapples with these challenges, Orsini's message is clear: the continent must act decisively and cohesively to protect its economic interests and ensure its industries can compete on the global stage. The upcoming negotiations with the US on tariffs, the energy crisis, and the strategic positioning in the tech race are all critical areas where Europe's ability to 'change pace' will be tested. The call for simplification, stable governance, and targeted support for key sectors like steel and technology reflects a pragmatic approach to securing Europe's industrial future.
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