When former European Central Bank President Mario Draghi unveiled his landmark report into the continent’s competitiveness, he wasn’t just suggesting a new set of regulatory and investment reforms. He was also urging the EU’s political leaders to work together and implement a more coordinated industrial policy, or risk falling even further behind China and the United States.
The EU’s goals are clear: to lead a policy of reindustrialization, remain an open continent trading globally, and decarbonize the economy—all of which will lead to new industries that can compete globally.
