I don't think they've found a balance at all, I'm afraid. I think they are in long-term structural industrial decline. How has Europe managed this? They have managed it badly and inadequately so far. Their duties and their quotas are not going to be strong enough, and their industrial bases are going to be hollowed out. If you look at the economic malaise that has gripped Germany, there are empirical examples of it. There have been 10,000 manufacturing jobs lost per month over the last year. It is going to be devastating to Europe, and they need a new strategy.
