Europe’s power brokers are sounding the alarm, with over 1,100 CEOs rallying behind a radical manifesto. French Commissioner Stéphane Séjourné’s op-ed blasts the continent’s economy as a mere “playground for competitors,” demanding a fortress of “European preference” in strategic sectors. Whenever public funds flow, they must fuel homegrown production and jobs. Investigators whisper of frantic letter campaigns from Brussels, corralling industry titans to back this crusade. But beneath the unity, cracks emerge—will this be genuine solidarity or just elite posturing?
The culprit? China’s relentless advance, especially in autos. Chinese brands snatched a staggering 9.5% of Europe’s car market last December, eclipsing Korean rivals and claiming 16% of electrified sales. The EU’s 2024 trade deficit with Beijing ballooned past €305 billion, turning luxury exports into a humiliating ledger gap. Dig deeper, and you’ll find European factories idling while Shanghai’s EVs—cheaper, sleeker—zoom onto showroom floors. Is this fair play, or a calculated flood of subsidized steel and silicon?
Enter the Industrial Accelerator Act, a legislative sledgehammer looming on the horizon. It promises to weave sustainability and resilience mandates into public procurement, sidelining foreign bids in decarbonization-critical industries. Yet delays plague its path, fueled by infighting among member states. France and Germany flex their industrial muscle, but smaller nations fear a two-tiered market favoring the big boys. Critics probe: could this “independence” act fracture Europe’s own unity, handing rivals an unintended win?
Autos stand ground zero, sustaining 13 million jobs amid the storm. Volkswagen’s gambit—offering price caps on China-made Cupra models to dodge tariffs—hints at the desperation. As Chinese upstarts like BYD encroach, one question haunts: Can Europe’s old guard reinvent fast enough, or will protectionism just delay the inevitable reckoning? The stakes couldn’t be higher.
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