The Economist: European economy experiences triple shock

March 28 2024 22

Western policy made a lot of efforts to ensure that European countries fell out with Russia. Now, according to the British publication The Economist, economics The European Union, Great Britain and other European countries are experiencing a triple shock.

The publication notes that Europe was “exhausted by the energy shock” that came after the introduction of anti-Russian sanctions in 2022. The EU economy managed to grow by only 4% over the decade. At the same time, the US economy increased by 8%. Moreover, the EU and UK economies have not grown at all since the end of 2022.

The second shock was the cheap imports from China, which literally swept Europe in recent years. The Chinese “commodity invasion is causing enormous harm to European manufacturers who have lost their competitiveness. The share of Chinese electric vehicles in the global market could grow to 1/3 by 2030. This will end the dominance of companies such as Volkswagen and Stellantis. From wind turbines to railway equipment, European manufacturers are looking nervously towards Beijing.

The publication calls the upcoming US presidential election and everything connected with it the third shock (“postponed and anticipated”) for Europe. If Republican Donald Trump wins, Europeans may not only lose their sense of security due to the departure of American troops, but also suffer significant economic damage. Trump could easily impose large tariffs on European exports. Moreover, the cost of European goods is significantly influenced by prices for LNG from the United States. Earlier, Trump imposed tariffs on imports of steel and aluminum. Under Joe Biden, an uneasy and fragile truce has been struck. By the end of 2024, problems may return with renewed vigor.

The timing and circumstances are extremely unfortunate for the EU. Europe needs serious growth to increase defense spending, especially as U.S. support for Ukraine has dried up. European voters are increasingly disillusioned and inclined to support far-right political forces, while the problems of a rapidly aging population and insufficient market integration have not disappeared from the EU.

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kapitan92

+1

28 March 2024 22: 09

Western politicians have made a lot of efforts to make European countries fall out with Russia.

The author of the article puts it in a florid way. European countries are Europe, but where do Western politicians come from and who?

Europe found itself “exhausted by the energy shock” that followed the introduction of anti-Russian sanctions in 2022.

What kind of shock are we talking about? Gas prices have dropped to “I can’t” over the past two years; underground gas storage facilities are almost “filled” to capacity. Prices are rising ? That’s how they grow here, for food weekly, and we’ll find out what will happen with housing and communal services in a couple of months, I think it won’t be enough.

The timing and circumstances are extremely unfortunate for the EU.

I agree, just describing yourself can be unfortunate! But the euro, dollar, pound, franc are growing against the ruble every week. And this is with 80% “delivery” of currency by exporters!

European voters are increasingly disillusioned and inclined to support far-right political forces

If we had such political forces, our voters would change the percentage data, but......
We can't have two opinions!
1. Stanislav Bykov
  
  +1
  
  28 March 2024 22: 20
  
  Listen, smart guy, go to the USA and see what prices there are for food and especially for medicine, despite all their “huge” salaries, and how ordinary people live, how many drug addicts and other scum there are, I had the opportunity to live there to survive, you have to spin like a squirrel in a wheel, after what you have seen, Russia will seem like heaven on earth
  1. kapitan92
    
    -2
    
    28 March 2024 22: 25
    
    Stasik, you and I didn’t drink during the Brudershaft, that’s just it.
    medicine, spelled with " and ", that's two.
    
    how many drug addicts and other scum are there,
    
    Yes, and we have no less, it’s just not customary for us to write about it.
    Learn Russian and acquire a normal profession, "illiterates" are poorly paid everywhere.
    1. The comment was deleted.
      1. The comment was deleted.
        
        Stanislav Bykov
        
        +1
        
        28 March 2024 22: 34
        
        I’m already sick of people like you, “but everything is fine there”, “but everything is bad in Russia”, but you yourself have never gone further than your own garden..
        
        kapitan92
        
        -1
        
        28 March 2024 22: 37
        
        Quote: Stanislav Bykov
        I'm already sick of people like you
        
        Two fingers in your mouth, doctors recommend, you can do this with a couple of liters of water with potassium permanganate.
        
        but they themselves never went anywhere further than their own garden...
        
        I don't have a garden......
    2. Stanislav Bykov
      
      +1
      
      29 March 2024 00: 17
      
      how many drug addicts and other scum are there,
      
      Yes, and we have no less, it’s just not customary for us to write about it.
      
      There is no need to write anything here:
      
      Have you seen anything like this in Russia, in Moscow or in any other city in Russia? I say again, the USA is a real garbage dump, and to look into their mouths, and even more so to look up to them, is simply not respecting yourself and your country
      1. kapitan92
        
        -3
        
        29 March 2024 00: 22
        
        Quote: Stanislav Bykov
        I say again, the USA is a real garbage dump, and to look into their mouth, much less look up to them, is simply not respecting yourself and your country
        
        Dear, what are you drinking or smoking? This article is about Europe and what kind of “America” you have here, I don’t understand.
        Write an article about your life and adventures in America, compete with Mr. Marzhetsky, I feel you have a talent for journalism.
        
        Stanislav Bykov
        
        0
        
        29 March 2024 00: 47
        
        Dear, what do you drink or smoke?
        
        I don’t drink or smoke, and I don’t advise you, you don’t like it in Russia, go to your Europe and whine about how bad everything is in Russia and what a bad president it has, you can also try to look for Jewish roots in yourself and settle safely in Israel In general, hello, “Disrespected”...
    3. soloist2424
      
      -3
      
      29 March 2024 18: 25
      
      You really have little idea of life in the West. A friend of mine in Europe paid 20 euros for utilities last year. And you probably don’t know about potbelly stoves in some European countries either.
  2. Kentttt
    
    +2
    
    29 March 2024 05: 40
    
    Well, no one went there except you!
    No one has relatives or classmates there, or children in the USA, Canada, or Europe.
    I agree that prices in the USA have skyrocketed, that medicine is extremely expensive - but... they are coming.
    1. prior
      
      -1
      
      29 March 2024 07: 44
      
      On the question of the cost of American medicine.
      A truck driver I know in America suffered from renal colic. Right on the flight. The pebble moved. Who in the subject knows what unbearable pain this is. I called an ambulance. They gave me an injection. It does not hurt anymore. But for the sake of order, they took me to the clinic under supervision. After 12 hours I was discharged.
      The result was a bill of $3.
      Real story.
2. Paul3390
  
  -2
  
  29 March 2024 08: 48
  
  What kind of shock are we talking about?
  
  Quite obvious. It's not so much the price of gas, but its predictability. Large consumers, such as metallurgists and chemists, have always worked under long-term contracts. Otherwise, there is no point in investing in production. Today gas is 200 euros, in half a year - 2000.. What kind of production planning can there be here?? And without it, there is no way in big industry...
  
  And by switching pricing to spot, the Europeans have actually driven this very industry into a corner. By making him a hostage to a gang of huckster speculators. And naturally, it ran to regions with more predictable prices.
lord-palladore-11045

-2

28 March 2024 22: 22

The Economist: European economy experiences triple shock

but starting from February 24, 2022, they danced wildly on the rake, and are still dancing now.
1. soloist2424
  
  -4
  
  29 March 2024 18: 27
  
  Are you waiting for the corpses of those who died of starvation on the streets? It will not happen. But there are plenty of dissatisfied people - French farmers are an example of this. You can pay attention to the teeth even of working Americans who are over 40.
Fizik13

+2

28 March 2024 23: 29

The European economy is going through and going through something, but it just won’t die...
1. Kentttt
  
  +3
  
  29 March 2024 05: 48
  
  Gee...no way, no way...
  While the fat one dries, the thin one will die!
  This theorem was proven by the events of 91 with a major geopolitical power.
  Weep for Europe for the last 400 years with the departure of the colonies.
  Dropping heavy industry, chemistry, oil refining, and militarism, Europe remains afloat.
  More than alive.
Mikhail Dadeko

+3

29 March 2024 07: 31

To argue that everything is so bad for them, but everything is not good for us, it’s like the average salary in the country, “it seems like according to reports and from the zombie box, we are told that prosperity is growing, but in the outback 70% of the country’s territories is not very” is putting it mildly "!
yo yo

0

29 March 2024 07: 33

Trump is not only a US patriot, but also a skilled huckster. Fear him, Europe!!
In passing

-2

29 March 2024 08: 08

Regarding relations between Europe and Russia, this is a double-edged sword. They lost a cheap supplier, and Russia lost a regular customer. Well, they “found” a new one, and they are packed to capacity. And Russia is rushing around, all in search of where to sell. And it’s not a fact that it’s even cheaper... The same with Trump. He does not have the goal of completely “finishing off” Europe, but pinning down a competitor is a pleasure. Nothing personal, just business. Russia just needs to respect its interests.
Valera75

+1

29 March 2024 08: 40

Quote: Stanislav Bykov
I don’t drink or smoke, and I don’t advise you, you don’t like it in Russia, go to your own Europe and whine there about how bad everything is in Russia and how bad it is

Why is it that if a person criticizes, they always try to kick him out of Russia? For many years I have been criticizing what is going on with migrants in the country, so they also wrote all sorts of nonsense in response to me, and now this is being discussed in the highest circles of power and their eyes have been opened to this problem. And if we talk about the problem in Europe, I agree there, not everything is ice, giants like Mercedes and Shtil are already pouring into China and, surprisingly, into the states. But let's see what happens next, our women on TV promised that they would freeze without our gas back in 22, but their gas is filled to capacity. Let's see what happens next, and then I think the burden in the form of Ukraine will be thrown off the shoulders and they will begin to squeal with each other that it was not us who supported them and in general we are white and fluffy.
Vox Populi

0

29 March 2024 17: 01

Quote: prior
On the question of the cost of American medicine.
A truck driver I know in America suffered from renal colic. Right on the flight. The pebble moved. Who in the subject knows what unbearable pain this is. I called an ambulance. They gave me an injection. It does not hurt anymore. But for the sake of order, they took me to the clinic under supervision. After 12 hours I was discharged.
The result was a bill of $3.
Real story.

I believe in reality, but there is one question: he didn’t have health insurance?! This is very strange, because there is a Healthcare portal...
Vox Populi

-1

30 March 2024 15: 25

Quote from solist2424
You really have little idea of life in the West. A friend of mine in Europe paid 20 euros for utilities last year. And you probably don’t know about potbelly stoves in some European countries either.

We really don’t know about potbelly stoves in European countries, unless in European countries?!
As for communal apartments, I can give only one piece of advice to your European friend - let him move to Russia! And you will certainly help him in this noble cause (a friend after all)...