Classic exports from Europe have become outdated. Moreover, Western Europe is also in dire straits as a place of production: Supply chains from China are unstable. China and the USA are facing a showdown for world supremacy. There is a war going on in Europe, and trade with Russia is also badly damaged for the foreseeable future. Boycotts on exports and imports are becoming increasingly popular as a policy tool.
In Formula 1, one speaks of the best “Overall Package” in a race car as a decisive prerequisite of championship-winning performance. In other words, it’s not simply a question of the driver, the best chassis, most powerful motor or the most suitable strategy in a race. Rather, everything has to “fit” in order to bring a team right to the front. It is similar in the economy.