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While much of Europe embraced market liberalisation, France maintained a stronger belief in the strategic role of the state. Today, as debates over industrial policy, energy security and technological sovereignty return, France’s economic model appears more relevant than it has in decades.
Europe’s challenge is no longer simply competing with foreign companies. It is increasingly competing with state-backed industrial ecosystems. As strategic industries shift from products to infrastructure, Europe faces difficult questions about resilience, sovereignty and the future of open markets.
