At the European Industry Summit in Antwerp, Belgian Prime Minister Bart De Wever delivered a radical address, warning that the European Union is facing a sharp decline in its industrial base.
This warning followed observations of the impact of elevated energy costs, stringent regulatory frameworks, and fierce global competition from the United States and China. These factors, as De Wever noted, have contributed to a surge in factory closures and a discernible hesitancy among investors.
Shock Therapy for declining Europe: De Wever asserts that Europe risks becoming an “industrial museum” unless the Brussels-based institutions implement reforms with immediacy, reduce bureaucracy, decrease energy costs and acknowledge the pivotal role of industry as a strategic security asset.
This approach, according to De Wever, would facilitate the linkage of Europe’s manufacturing base to economic resilience, defence readiness and geopolitical influence. This is a pivotal concern for the bloc as it seeks to strike a balance between climate objectives, competitiveness and employment opportunities.
Shock Therapy for declining Europe: The Prime Minister’s message is a clear call to arms for policymakers, industry leaders, and stakeholders to act decisively to secure Europe’s industrial future and strategic autonomy.
The future of European prosperity depends critically on strengthening and modernizing its industrial base. Urgent, pragmatic, and measurable reforms are required, focusing on regulatory relief, strategic partnerships, and increased investment.
Europe must balance openness with assertiveness to avoid becoming dependent or losing out to global competitors. The momentum for change is now; Europe must choose focus and feasibility over diffuse ambitions to remain globally relevant and economically resilient.
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Shock Therapy for declining Europe: He highlights a critical industrial decline in Europe, particularly in the chemical sector, which has experienced a sixfold increase in announced closures and a 10% loss in production capacity over four years. He warns that Europe risks becoming an “industrial museum”—admiring past prosperity while losing future economic leadership.
The Prime Minister identifies energy costs, competitiveness, regulatory burdens, and unfair foreign competition (notably Chinese dumping) as key drivers behind this decline. He stresses that despite broad agreement on what Europe wants for its industry, the real challenge lies in pragmatic, feasible action rather than idealistic goals.
To reduce the burdensome rules and carbon costs that hinder innovation and growth is of utmost importance.
European industrial competitiveness is deteriorating, with 83% of competitiveness pillars showing no progress or worsening conditions. The chemical industry, a backbone of European industry, faces an existential crisis due to closures and declining investments.
Shock Therapy for declining Europe: Energy costs, labor costs, and regulatory complexity are main obstacles; the Prime Minister’s government has taken steps to address these through energy compensation mechanisms and regulatory simplifications. Pragmatism and urgency are essential—Europe must start from feasible actions, not just desirable outcomes.
Industry is central to Europe’s economy, technology, and defense, forming the foundation of strategic autonomy and sovereignty. Europe risks losing not just economic growth but also global influence and sovereignty if it neglects its industrial base.
Without action, decarbonization risks leading to Europe’s de-industrialization, poverty, and irrelevance.
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