TRTWORLD — The Newsmakers
20261012 223000 UTC
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[00:00:04] of
[00:00:09] You're watching TRT World with me John Paul Davis,
[00:00:11] a reminder now of our main headlines. Yemen's
[00:00:14] ancerolties say they've targeted Riyad's
[00:00:18] of international airport and base in the south
[00:00:22] of of the country in the past few hours. Saudi
[00:00:22] me Arabia has confirmed that Kames Mushad base was targeted and
[00:00:26] of says the danger has now passed. It's also vowed a strong response. to recent
[00:00:30] hoothy attacks on Riyad's main international airport and
[00:00:34] extended the suspension of all flights to and from its capital
[00:00:37] city. The event of recent weeks
[00:00:41] are serious. Our response must be equally
[00:00:45] serious.
[00:00:46] of Energy security cannot be taken for
[00:00:49] of granted.
[00:00:50] of For Saudi Arabia, this circum this circumstances have tested
[00:00:54] our infrastructure, our
[00:00:57] institution, our people.
[00:01:00] of and our resilience, they have also
[00:01:04] tested decision made long before the present
[00:01:07] crisis. An Israeli drone attack
[00:01:11] has targeted
[00:01:12] a refugee camp in the south of Gaza, killing at least two Palestinians.
[00:01:16] Paramedics
[00:01:17] of say several people were wounded in the strike on the camp near Raffa, which is home
[00:01:21] to
[00:01:21] of thousands of Palestinians who've been displaced multiple times during Israel's
[00:01:25] three-year war. US immigration
[00:01:29] officials. raided the home of Somali born Congresswoman Ilan
[00:01:32] Homer in the early
[00:01:34] of hours of Monday. Omar is described or described the raid as
[00:01:38] an active intimidation vowing
[00:01:40] in not to be silenced. The investigation reportedly concerns her
[00:01:44] immigration
[00:01:46] a paperwork. Russia is continuing to attack Ukraine's
[00:01:49] energy facilities that despite the so-called energy cease fire
[00:01:53] declared by US President Donald Trump on Sunday. Russia has yet to
[00:01:57] comment on Trump's claim, but Ukrainian president. Zelensky says
[00:02:01] several gas facilities were hit since his cease far
[00:02:04] announcement,
[00:02:08] and hundreds of supermarkets in France have been hit by an unprecedented cyber
[00:02:12] attack that raised fridge and freezer temperatures to
[00:02:16] in 50 of degrees celsius, all fires and widespread food spoilage have
[00:02:20] been reported with losses
[00:02:21] of estimated at the millions of dollars. Some
[00:02:23] of the country's biggest supermarket change were hit including Carfour, which
[00:02:27] said 80 of its stores
[00:02:29] me were affected. and the news continues on
[00:02:33] TRT World after the
[00:02:37] of newsmakers.
[00:02:47] After two days of talks in Beijing, have the EU and
[00:02:51] China averted a trade war. Intensive consultations
[00:02:55] may cut EU imports of Chinese EVs by half, but does that ease
[00:02:59] Beijing's complaints? of protectionism and can the adjustment help
[00:03:03] correct Europe's $1 billion a day trade deficit
[00:03:12] in
[00:03:14] of
[00:03:27] When US President Trump first launched his tariff trade. war, some
[00:03:30] predicted the EU and
[00:03:32] of China would lean into each other to offset the damage. Instead, the two
[00:03:36] a are now working to avert a trade war
[00:03:42] of of their own. Over the weekend, crucial talks in Beijing produced what seem like some break-through measures, but no break-through deal.
[00:03:46] China feels it's being blamed for the EU's economic problems when Beijing
[00:03:49] should be seen as a partner in solving them, but can the two
[00:03:53] really find a balance that benefits all, with a free-market model on one
[00:03:57] side, and a massive mostly state control. economy on the
[00:04:01] other. Here's a look: trade wars between China and the
[00:04:04] US may have received more headline coverage, but the EU
[00:04:08] has also grown increasingly wary of trade imbalances with
[00:04:12] China in recent years. As massive tariffs hit
[00:04:16] Chinese exports to the US, China increasingly turned
[00:04:19] of to Europe as an export market, but that presented
[00:04:23] Europe with a problem. 1 billion Euros every
[00:04:27] day. That was Europe's trade deficit with. china last
[00:04:30] year and this gap is growing even further. for
[00:04:34] too long we have opened our market without getting the same access in
[00:04:38] china. for too long we have accepted
[00:04:42] unfair competition while European companies paid the
[00:04:45] price and for too long we have watched china
[00:04:49] test the limits of international law. the European
[00:04:53] parliament voted in october to touffen its stance on
[00:04:57] china. the 27 nation block. has long considered
[00:05:01] China's massive subsidies and surplus
[00:05:04] a exports, especially in car manufacturing as a major
[00:05:07] threat to European industries, but over the weekend,
[00:05:11] EU-China trade. talks may
[00:05:13] have helped soothe European anxieties. China's
[00:05:17] commerce ministry said the two sides agreed to explore the
[00:05:20] possibility of reducing tariffs on certain goods
[00:05:24] within the World Trade Organization
[00:05:26] Framework. The frequency and effectiveness
[00:05:30] these consultations have met our expectations. Both teams have
[00:05:34] engaged in very intensive and challenging discussions.
[00:05:37] Announcing the deal in Beijing, the EU trade commissioner said China
[00:05:41] had a reed to limit exports of hybrid electric
[00:05:45] vehicles after two days of high stakes
[00:05:48] negotiations. looking at the the period of four years
[00:05:52] and according to the projection we
[00:05:55] have that's more than a halfing
[00:05:58] the exports of
[00:06:02] hybrids and plugging hybrids into the
[00:06:06] European Union under no change scenario so i think
[00:06:09] by by this step we are actually preventing. several millions
[00:06:13] of cars
[00:06:16] exports from China to the European Union. In 2024, the
[00:06:20] EU imposed tariffs on fully electric Chinese
[00:06:23] vehicles, but China got around that by exporting hybrid
[00:06:27] electric vehicles instead. In the first half of 2026,
[00:06:31] Chinese EVs took around 10% the EU
[00:06:34] market, but for hybrids and specifically
[00:06:38] plug-in hybrid vehicles, one in four were Chinese brands.
[00:06:43] but if Brussels and all 27 nations approved the deal later this
[00:06:46] week, Chinese EV exports would fall to
[00:06:49] around 350,000, cut by more
[00:06:53] than half the projected exports over a 4-year period,
[00:06:57] starting at the end of 2027. China's commerce
[00:07:01] ministry said on Monday that the deal ensured Chinese
[00:07:04] companies had room to export and be stable
[00:07:08] while addressing the EU's realistic concerns, but
[00:07:12] Concerns about China extend well beyond electric
[00:07:15] cars. China has a critical chokehold on rare earth
[00:07:19] minerals which are crucial for manufacturing everything from
[00:07:23] computer chips to green energy infrastructure to weapons
[00:07:27] and complex technology. Brussels has
[00:07:30] proposed several measures to limit Chinese companies
[00:07:33] access to Europe's 450 million
[00:07:37] strong consumer market, but Europe provides Beijing
[00:07:41] a useful outlet for overproduction,
[00:07:45] and Europe also wants Beijing to open up Chinese markets
[00:07:49] to billions of dollars of European products. The true
[00:07:53] test of EU-Chinese trade corporation lies
[00:07:56] not just in electric vehicle agreements alone.
[00:08:00] The EU needs these vehicle sector agreements to
[00:08:03] signal further agreements yet to
[00:08:31] being with me, Earl, I'll start with you, you when you look at the
[00:08:33] numbers, of course the most standout statistic
[00:08:37] is that $1 billion a day trade deficit
[00:08:41] between the EU and china, but is is that alone,
[00:08:45] you know, enough for the EU to say that China is clearly
[00:08:49] behaving unfairly, or is that kind of shock headline, actually a bit
[00:08:52] deceptive? It's a great question, Andrean, and it's
[00:08:56] wonderful to to to be here with you again, um, I think it's
[00:09:00] fundamentally important to understand that the one billion is is really
[00:09:03] headline news in many ways, there are fundamental
[00:09:07] issues with both the EU and China
[00:09:10] in terms of trade. but I think it's important for us
[00:09:14] to to segregate their their untrade trade, unfair
[00:09:18] trade practices, but there's also the the basic notion that China
[00:09:22] has historically been able to produce goods at cheaper prices
[00:09:26] and that alone does not necessarily imply unfair
[00:09:30] trade practices. one the concerns that we're
[00:09:33] seeing now is countries like Germany that are
[00:09:37] seeing something like a the the US uh the city group
[00:09:41] president said that on her recent visit to Germany and Germany was
[00:09:45] losing something like 10,000 jobs a day due to
[00:09:49] unfair trade practices, if you do the math that's about 120,00 jobs
[00:09:53] a year, so that's significantly that's a significant issues
[00:09:56] when you look at the issue of Chinese EVs um
[00:09:59] historically um countries like Germany,
[00:10:03] Volkswagen for example where the were the industry standard um
[00:10:06] for for for cars over the last 40 years, however they weren't
[00:10:10] able to adopt,
[00:10:12] make the... necessary
[00:10:13] changes to shift from auto manufacturing into evs and as result
[00:10:17] Chinese local Chinese EVs were
[00:10:20] able to significantly take over the market make the
[00:10:24] necessary. changes so I think it's important to understand that
[00:10:27] that that dichotomy, not necessarily there are
[00:10:31] clear and inherent um just because there's
[00:10:35] a trade imbalance does not necessarily imply trade
[00:10:38] um unfair trade practices got it so I mean
[00:10:42] China you're saying in the case especially of EVs it it managed to
[00:10:46] innovate quickly so let ask yeah what do you
[00:10:50] make what do you make first of all of the talks that just concluded in
[00:10:53] Beijing and particularly the focus on EVs
[00:10:56] in the end
[00:10:57] that ended up being the headline uh as far as results were
[00:11:00] concerned, will it now hurt Chinese
[00:11:04] manufacturing, I mean can Beijing afford it? go
[00:11:07] ahead. well, I think um, I think,
[00:11:11] as mentioned before a trade imbalance, I
[00:11:14] doesn't automatically mean unfair trade practice, and also
[00:11:18] actually reflects, what European business and consumers
[00:11:22] choose to buy, many European consumers. by Chinese electrical
[00:11:26] vehicles, batteries and even solar panels, because they
[00:11:30] offer a competitive price and a good quality,
[00:11:34] so you know take BYD, for example, European drivers in
[00:11:37] Germany, the UK, France and Norway are choosing
[00:11:41] his cars because the price and the technology, and the company is
[00:11:44] now in building a plant in Hungary, which
[00:11:47] means will bring a lot of European jobs and also
[00:11:51] there is uh MG is started as a British British. brand
[00:11:55] morris on garages and today is Chinese owned and
[00:11:59] one the top selling Chinese owned car brands in Europe and many European
[00:12:03] drivers don't even realize it and all and all this you can
[00:12:07] help Europe achieve its own uh green transition goals as
[00:12:10] well so you know I think uh China's
[00:12:13] competitiveness didn't happen and also China's competitiveness didn't
[00:12:17] happen overnight it's the result of decades of investment
[00:12:21] in infrastructure supply chains talent and
[00:12:25] information combined with intense competition in its own
[00:12:29] domestic market, so Europe has its own challenges
[00:12:32] including high energy costs right now and
[00:12:35] slower and slower industrial innovation, these are real
[00:12:39] issues, but ts won't
[00:12:40] you know solve them, so I think protecting your market doesn't
[00:12:44] automatically make your own industries more competitive, it can simply mean
[00:12:48] you higher costs for consumers and more even more
[00:12:52] expensive green transition, so let ask: then, I mean, is the
[00:12:56] EU in part, to blame for its losses here, and is
[00:13:00] there a risk that it will actually punish
[00:13:03] consumers who prefer cheaper, but well-made
[00:13:07] Chinese models, according especially to what Serena was saying, uh, is it
[00:13:11] ready to punish consumers to create jobs?
[00:13:15] Well, the risk is there. I think that Europe
[00:13:18] spent decades consolidating the EU and the euro and we
[00:13:22] failed to recognize that China was becoming... huge
[00:13:25] superpower with a high level of innovation, with huge,
[00:13:29] of course economies of skills and suddenly we
[00:13:33] do realize that we had trouble, but the other thing is that
[00:13:37] referring to a question, we thought i would
[00:13:41] say 25 years ago that think to the euro there
[00:13:45] would be huge industrial consolidation in
[00:13:48] Europe, we thought that we would have huge chemistry
[00:13:52] industries, but name it in the banking. world,
[00:13:55] insurance, chemistry, all them, we failed to
[00:13:59] consolidate companies and we are still living with nation states,
[00:14:03] meaning that some countries are becoming weaker than other ones, france is a good
[00:14:07] example of that, and so we are more open to Chinese
[00:14:10] goods then we could have been if we had consolidated the
[00:14:14] EU, so I think that
[00:14:16] fundamentally, unless Europe
[00:14:19] decides to consolidate its own industries,
[00:14:23] will he will be in? with China, and when I
[00:14:27] walk down the streets in Brussels, I see more and more day by
[00:14:31] day Chinese cars, because as you just mentioned, people would
[00:14:35] prefer high quality and cheaper cars than German cars, but European
[00:14:38] industrial consolidation, that is a big ask.
[00:14:42] Bruno, I'm going to stick with you for second, because meanwhile EU
[00:14:46] ministers and representatives are back at work today and Brussels after these
[00:14:50] talks, what does the EU, what are they thinking
[00:14:53] now, and our EU
[00:14:55] member states at least united on an approach to
[00:14:58] China? I think they are not
[00:15:01] united, especially because some
[00:15:05] countries like Germany will will try to find bilateral
[00:15:09] agreements with China, that's a big danger for the EU as a
[00:15:12] whole, but also
[00:15:14] because we need to embrace
[00:15:18] globalization, and we cannot do that with weak
[00:15:21] oppositions, we cannot do that with
[00:15:24] the nation state. as we are acting today, so I think that Europe will
[00:15:28] still be at risk, and I hope that some EU
[00:15:31] countries will not prefer
[00:15:34] protectionism, and we see that no. emerging in
[00:15:38] Germany, but also in France, because that would be the end the
[00:15:42] intra-european globalization, but also with the extra
[00:15:45] European globalization, so
[00:15:48] there was a huge thinking process that should be in place in Europe, and
[00:15:52] also the last thing I would like to add is that we had two years
[00:15:55] ago, commissioner dragi, used to be the
[00:15:59] president the ECB, published his famous
[00:16:02] report, since then nothing has been done, although he was mentioning
[00:16:06] that innovation was key to success, we are still nowhere,
[00:16:09] so we we are really facing huge, huge
[00:16:12] changes. okay, i can see you
[00:16:16] notding, so so you agree as per
[00:16:20] what challenges the EU is fundamentally facing and not just its
[00:16:24] economy, but the health the EU-china trade,
[00:16:28] the EU-China trade relationship uh, and how that affects the entire
[00:16:32] EU? absolutely, and and it's a clear balancing
[00:16:36] act, I would agree with with Bruno, one the things right now is that
[00:16:39] Europe is not united, I mean you have Germany
[00:16:43] in many ways trying to head um visa v the
[00:16:47] United States um and trying to bargain for better
[00:16:50] reciprocity with the Chinese market um and at the
[00:16:54] same time uh while I agree with Serena that there
[00:16:58] are um China has made huge
[00:17:01] strides uh in their EV market, I mean there are
[00:17:05] clear examples where China. has used anti-dumping
[00:17:09] duties flooding the market with with cheap um
[00:17:13] products below their normal value um and that has
[00:17:17] an impact and or um stealing intellectual property
[00:17:21] rights now I think it is important that we define uh and and have
[00:17:24] clear evidence of those and when that there are those
[00:17:28] infractions that the EU be able to
[00:17:31] um do investigations into these
[00:17:34] Chinese EV vehicles the batteries
[00:17:38] themselves, but impose countervailing duties. i think the
[00:17:42] problem, the
[00:17:43] the the issues that have played the European Union, they that they they've
[00:17:47] operated too slow, they took invest take
[00:17:51] investigations for example, they first notified, they
[00:17:54] concluded in october 24 that there were these
[00:17:58] investigations, but then the official announcements on price
[00:18:02] commitments came out in January 2026, so i think it's important for
[00:18:06] europe to be able. to move faster, be more united
[00:18:10] when when when bargating and negotiating with China and really
[00:18:14] address these these these fundamental concerns. Right. Sarena,
[00:18:18] I want your response to that, and does it also come down to
[00:18:22] the difficulty in trying to reconcile a free market system that is the
[00:18:25] EU with, a state-controlled economy, so that they can
[00:18:29] try to trade more fairly,
[00:18:31] but at such huge scale.
[00:18:35] Well, as a mentioned. Maybe Europe should be
[00:18:38] like united uh more in in you
[00:18:42] know with dealing with the China, but what what I want to say when it
[00:18:46] comes to China eU relations, especially the so-called
[00:18:50] deal risking with China, even there's promoting
[00:18:54] some uh sort sort of wider EU China trade wars, I
[00:18:58] think the risk is real, but I think we need to be more
[00:19:02] clear about how that risk develops, because China,
[00:19:05] Beijing has consistently. that it doesn't want a trade war and
[00:19:09] prefers to resolve differences through dialogue and negotiation which the
[00:19:13] you know dialogue has just happened you know a
[00:19:17] couple of days ago when EU and China has reached a very
[00:19:20] good understanding of a hyber vehicles
[00:19:24] and and medical imports exports and etc. but that doesn't
[00:19:28] mean China will simply accept measures that undermine is
[00:19:31] legitimate interests if the EU expends its um trade
[00:19:35] defense measures China will have to respond. we've already
[00:19:38] seen the that dynamic in China's anti-doping
[00:19:42] investigation into imports of PNT from the EU,
[00:19:46] these are responses to specific trade measures, not
[00:19:49] escalation for the sake of for the sake of
[00:19:53] escalation, and that's said, I think if there's
[00:19:56] a wide wider trade war is still avoidable,
[00:20:00] because
[00:20:01] you know the economic ties are simply too deep between China and the
[00:20:04] EU. European manufacturers depend on Chines.
[00:20:07] components, materials and batteries, while Chinese
[00:20:11] exports rely on the European market, of course, so disrupting those
[00:20:15] links will be hurt business and consumers on both side,
[00:20:19] so um, I'd also be careful about how we use uh the
[00:20:22] term derisking, as I mentioned earlier, if measures keep
[00:20:26] expanding across sectors such as steel, medical
[00:20:30] devices, raw materials and automobiles, they may
[00:20:34] end up
[00:20:34] you know creating the very uncertainty, and they are which
[00:20:38] they are supposed to reduce, so I think so far the
[00:20:42] biggest danger isn't necessarily when dramatic breakdown
[00:20:46] between China and EU and it's a gradual escalation with each.
[00:20:50] side, you adding new restrictions until the costs become
[00:20:54] too high and the relationship becomes much harder to
[00:20:57] repair. right, there are so many measures to look at
[00:21:01] here, and bruno, you know, and we see over the weekend really, as we
[00:21:05] said, the big big headline was that there was this
[00:21:08] agreement that looks like it will be approved, specifically on
[00:21:12] EVs, so when we talk about EVs, there's another question
[00:21:16] I want to ask about whether it unfairly benefits.
[00:21:20] certain EU producer countries to the point that maybe it
[00:21:24] won't necessarily pass, because it would
[00:21:27] hurt consumers in other EU countries that would
[00:21:31] prefer to buy those cheaper Chinese cars that don't have
[00:21:35] the manufacturing base there, so is this,
[00:21:39] even this one thing
[00:21:40] we got out the weekend talks, is that a given that it
[00:21:44] will pass? you
[00:21:47] know, the first point and referring. whana just
[00:21:51] mentioned, i think that Europe cannot afford a trade war with China,
[00:21:55] that would be detrimental for both parties, and as you
[00:21:58] rightly mention, the ev,
[00:22:02] you know, provision may not pass,
[00:22:05] also because some country would probably benefit from that,
[00:22:09] but other ones no, so I'm talking about countries like France or
[00:22:13] Spain, Portugal, Italy, so I would be very careful about
[00:22:16] EVs, the problem, I think I would'
[00:22:20] China I would look at the problem with another angle, you
[00:22:23] know, if we are today competing about
[00:22:26] with the EVs, the question is to know
[00:22:29] how does it come that Europe could not increase its innovation level up to
[00:22:33] the one of China? That's a real question, so I do see
[00:22:37] competition as a way to force Europe to
[00:22:40] increase its exposure to China and maybe to
[00:22:43] cooperate on the grounds of innovation, that's key, that's the
[00:22:47] real issue, because competing on just... vehicles or
[00:22:51] devices doesn't solve any problem, the problem is that
[00:22:55] we need to innovate together and maybe open both markets each
[00:22:58] other, including evs, that would be the solution to me, it's it's
[00:23:02] a liberal answer, but i think it it may work a globalized
[00:23:06] world, it may work, do you think they can honestly do it, do you think
[00:23:10] there's enough cohesion to kind of get to that level and agree on on that common
[00:23:13] approach? well, if we do not reach
[00:23:17] European cohesion on that. "it means that the
[00:23:21] problem will get worse and worse in the coming years,
[00:23:25] so to today, today, because the dialogue with
[00:23:29] with China, that's i would say a
[00:23:32] warning that we have to do more together,
[00:23:36] consolidate our own industries and then try to keep
[00:23:40] up with China on the ground of innovation. okay, earl,
[00:23:43] you know, the EU obviously is trying to up its own leverage in in
[00:23:47] its trade talks with China, just just..."
[00:23:50] position, just the United States is trying its own very unique approach with
[00:23:53] China, you know, much more
[00:23:56] iron-fisted tariff but from
[00:23:58] intensive your assessment, do you think the EU is
[00:24:02] a better position in its trade relationship with China than
[00:24:06] the US or vice versa, or they are they in the same
[00:24:08] court? I think the
[00:24:12] issue with Europe is that it's when you're when you're
[00:24:16] negotiating with so many different countries, it it's hard... to
[00:24:20] get cohesion, the United States can in many ways make
[00:24:23] unilateral decisions um its own,
[00:24:27] um, I so so from that standpoint
[00:24:29] I think uh the European Union in terms their their
[00:24:32] decision-making process and the regulations that are involved
[00:24:36] particularly industries like automotives takes
[00:24:39] years to to kind of implement refine and and make
[00:24:42] decisions on that being said, I do agree with with
[00:24:46] Bruno's part, Bruno's point that a...
[00:24:50] protracted trade war between
[00:24:53] Europe and China would be catastrophic,
[00:24:57] would would would be horrible for both Europe and for China.
[00:25:01] Um, Europe's core manufacturing base, you've
[00:25:04] seen, just this year alone, almost Volkswagen announced
[00:25:08] almost 100,00 um people in terms of layoffs. China
[00:25:12] is also struggling in terms of almost 20% uh
[00:25:16] with with youth unemployment, so I think it is incredibly.
[00:25:21] important that both Europe and China find a
[00:25:24] way to to um have one
[00:25:28] concrete and sustained talks right on on
[00:25:32] on on very
[00:25:33] you know specific ways that they can bring the the the
[00:25:37] the
[00:25:37] the the tariffs down and engage more in in in dialogue, I
[00:25:41] think Europe needs the right balance of both sticks
[00:25:45] and carrots um they need the right types
[00:25:48] of um um, you know, if
[00:25:52] if China is not adhering to their
[00:25:55] agreed um, agreements, they need the right
[00:25:59] mechanisms to be able to enforce China to to.
[00:26:14] fragmented uh in many ways and China comes from very
[00:26:18] strong position of knowing exactly what it wants and and what kind of leverage it
[00:26:21] has uh so it's it's hard to see there's Bruno has painted
[00:26:25] very clear picture of what Europe should do but it's I it's hard to see
[00:26:29] how that's going to manifest going forward but Serena. last question
[00:26:33] actually for you, because on the other side there are also these accusations that China
[00:26:37] has kind of been weaponizing rare earths and that it's again using
[00:26:41] its its advantages there to play
[00:26:44] unfairly according to Europe. where do you see that
[00:26:47] going? well, as I
[00:26:51] mentioned earlier, China has consistently
[00:26:55] said it doesn't want of trade war, which
[00:26:58] you know is clearly stated its position, and also that '
[00:27:02] that the dynamic in China's anti-doping
[00:27:06] investigation into imports of PNT from from the EU, I think
[00:27:09] these these responses are to specific measures are not
[00:27:13] escalation for the sake of escalation and also
[00:27:17] you know the latest understanding shows that there
[00:27:20] are there's still room for dialogue and compromises, so the key now
[00:27:24] is to
[00:27:25] you know whether both sides can turn that concrete progress
[00:27:29] before tensions esc escalate further,
[00:27:41] that, as I was mentioning, a globalized world, we
[00:27:44] cooperate, need to and also the other thing is that Europe is facing
[00:27:48] different competition coming from the US, so I think that we need to
[00:27:52] strengthen our links with China, that's one thing, we need to
[00:27:55] consolidate countries across
[00:27:57] industrial agreements and
[00:28:01] that will
[00:28:02] be the key. for success for both parties, if we don't do that, we will be five
[00:28:06] years on the road with the same issues and the situation will be worse than in
[00:28:09] Europe. think at France, the industry in France
[00:28:13] accounts for less than 10% the GDP, if we don't do anything, it
[00:28:17] will be five or 6% on the
[00:28:29] us as well, remember you can follow us on social media and do be sure. subscribe to our
[00:28:33] youtube channel, i'm Andrea sanky, we'll see you next
[00:28:35] time.
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