The Deindustrialization Of Europe In Five Charts
Industrial electricity use in the EU is collapsing. US policymakers "Have no excuse for not looking at Europe and learning." Plus: screenings in Dallas, Tulsa, Fairfax, & Austin.
FEB 12, 2024
The headline on a February 9 Bloomberg article concisely sums up Europe’s unfolding disaster: “Germany’s days as an industrial superpower are coming to an end.” The article says, “Manufacturing output in Europe’s biggest economy has been trending downward since 2017, and the decline is accelerating as competitiveness erodes.”
Germany is once again, the “sick man of Europe.” But it’s not just Germany. All across Europe, industrial capacity is shrinking. Last month, Tata Steel announced it would close its last two blast furnaces in Britain by the end of this year, a move that will result “in the loss of up to 2,800 jobs at its Port Talbot steelworks in Wales.”
In January 2023, Slovalco announced it was permanently closing its aluminum smelters in Slovakia after 70 years of operation. The company, Slovakia’s biggest electricity consumer, said it was shuttering its smelters due to high power costs.
https://robertbryce.substack.com/p/the-deindustrialization-of-europe?
