this post was submitted on 03 Oct 2024
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French president tells fellow European leaders the bloc is falling behind the US and China because of over-regulation and under-investment

The EU “could die” unless it makes itself more competitive with the US and China, Emmanuel Macron has warned.

The French president said the bloc was over-regulating and under-investing at the Berlin Global Dialogue event.

Washington and Beijing both outstripped the EU in economic output and investment, he said, before calling on the bloc to complete its banking union package of financial rules.

Member states also needed to press for global trade rules to be kept fair, he added, according to Bloomberg.

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[–] [email protected] 3 points 2 months ago

Not insignificantly due to misinformation. Like Brexit.

[–] [email protected] 9 points 2 months ago

And Macron killed is by refusing to let the left to power.

[–] [email protected] 6 points 2 months ago

Then stop killing it.

[–] [email protected] 13 points 2 months ago

The EU car industry, in particular German carmakers are at the verge of a crisis because they lobbied so successfully against more regulations, that they fell behind on innovation. Now China is swooping up the EV market.

The problem with regulation is never regulation. It is a problem of inefficient bureaucratic processes of enforcing it. In order to have efficient processes you need to invest well into the public sector, which is something Neoliberals like Macron fiercely oppose.

[–] [email protected] -1 points 2 months ago

So what's this banking package thing he's talking about?

[–] [email protected] 8 points 2 months ago* (last edited 2 months ago)

While I'm generally sympathetic to the idea that the EU should strive to be more economically-competitive, I'm also skeptical that economic competitiveness represents an existential threat for the EU.

I'd also point out that the devil is in the details of what specific changes one plans to make. France has a lot of EU regulation and economic restrictions that they like. I suspect that a lot of people might point to the Common Agricultural Policy as something to reduce in size, though it's generally benefitted France at the expense of some other members.

[–] [email protected] 112 points 2 months ago (1 children)

Call me a mad old communist stooge but I count quality of life rather than economic output as a marker of success.

[–] [email protected] 24 points 2 months ago (4 children)

True to an extent but you need economic output to give you weight in the international stage. Otherwise you start getting pushed around by other superpowers.

[–] [email protected] 13 points 2 months ago

Otherwise you start getting pushed around by other superpowers

This is more a coincidence of the status quo rather than a consequence of an inherent correlation between economic output and geopolitical power.

[–] [email protected] 4 points 2 months ago (2 children)

One-world socialist government, you say?

[–] [email protected] 3 points 2 months ago
[–] [email protected] 0 points 2 months ago (2 children)
[–] [email protected] 2 points 2 months ago

Current world order sucks

[–] [email protected] 1 points 2 months ago

Yes, I know. Very scary to Republicans and Libertarians. The rest of us would love to live in a Star Trek world.

[–] [email protected] 2 points 2 months ago* (last edited 2 months ago) (2 children)

And also just buy things that are nice for ordinary people. In the West we don't feel it, but in a place like Africa the inability to produce anything high-tech themselves hurts.

[–] [email protected] 3 points 2 months ago (1 children)

It would hurt much less, if the countries wouldn't get fucked in trade "agreements" for their agricultural products and resources.

This aspect is kind of where the whole "free market, everyone specializes, everyone wins" theory fails, as the "less developed" economies get pushed around diplomatically and militarily, rather than being allowed to participate in a fair market.

[–] [email protected] 1 points 2 months ago* (last edited 2 months ago)

Corrupt wealth extraction from Africa is real, and significant on their end (but not ours, we do it for cents off each dollar).

A lot of African economies are managing to grow explosively anyway, though, as anyone who pays attention to the continent can tell you.

[–] [email protected] 2 points 2 months ago

As an Egyptian, fucking yes.

[–] [email protected] 14 points 2 months ago (2 children)

Also you need at least a reasonable amount of economic output to have good quality of life. I'm not saying good quality of life should be defined as full-blown sigma grindset consumerism, but I don't think most people would define it as cottagecore subsistence farming, either.

[–] [email protected] 2 points 2 months ago

a reasonable amount of economic output

There's a vast difference between "reasonable " and "max_profits nothing else matters".

[–] [email protected] 4 points 2 months ago* (last edited 2 months ago) (2 children)

You know, if you look at actual subsistence farmers, I never get a cottagecore vibe. They can and do use modern bits and pieces to make their work a little less back-breaking, as they can scavenge or occasionally buy them. A pole lathe is less aesthetic when it's powered by a cut-off bungie cord.

[–] [email protected] 3 points 2 months ago

Yeah, it's less cotagecore and more post-apocalyptic.

[–] [email protected] 1 points 2 months ago

Don't mind me; I was just going for linguistic flourish rather than exact verisimilitude.

[–] [email protected] 39 points 2 months ago (1 children)

De-regulation only helps rich assholes get richer. What he really means is the rich are getting marginally less rich right now, and they don't like it.

[–] [email protected] 3 points 2 months ago

But haven't you heard? This is affecting yatch money, eh I mean the economy.

[–] [email protected] 51 points 2 months ago

No they are not. They are kicking the rest of the worlds ass in standard of living. What that useless frog leg is saying the regulations are preventing his rich masters from being even richer.

[–] [email protected] 22 points 2 months ago

We could all die, Manny. You haven't done much to help.

[–] [email protected] 142 points 2 months ago (4 children)

EU could die because countries nominate far right anti EU presidents at a stagering rate

[–] [email protected] 9 points 2 months ago

Don't worry, his current government is allied with the far right party right now. Just so they can beat the left coalition. It's fine right ? Riiiiiiiiight ? /s

[–] [email protected] 11 points 2 months ago (1 children)

While our regulations and social security make us the most desirable immigration destination.

We should focus more on investing in technology, but that doesn't mean that we need to deregulate to allow uber/amazon type of companies to grow here. They're not a public benefit.

[–] [email protected] 2 points 2 months ago
[–] [email protected] 57 points 2 months ago* (last edited 2 months ago) (1 children)

Yeah, and frankly Macron's government style is likely to contribute to that problem. A far-right France has never been more likely.

[–] [email protected] 14 points 2 months ago (1 children)

Got to divert the blame, you know.

[–] [email protected] 13 points 2 months ago

Yep, I expect this is all going to be The Left's fault in short order

[–] [email protected] -5 points 2 months ago

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