News and Opinion: December 31, 2022. Europe Risks Deindustrialization Due to High Energy Prices

The European countries risk deindustrialization because of high energy prices. Europe's industries have been used for a long time to cheap Russian energy in the form of oil and natural gas. Europe's industries would become less competitive in the world arena. This would lead to many closings and bankruptcies.

Europe's industrial base will have to find other types of jobs. After a few years, Europe would be unrecognizable

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