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There's a lot of negativity surrounding European industry. What's happening,
however, is a massive revival of Europe's heavy industry base, thanks to both
the war in Ukraine and the new direction the US has taken.

Trump's betrayal has shaken up European industry. Of course, the auto industry
is struggling. We can't hide that fact. But automakers are now also looking at
defense. Instead of consumer cars, they're now producing combat vehicles, or
supplying the basic vehicle elements for missile systems and other weapons
systems.

Europe started late, but the production of weapons systems has now gained full
steam, and precisely because Russia is making things so difficult for Ukraine
with its energy supply, weapons production is now shifting to the gasping
European industry. It's perfectly timely.

France and Germany are doing very well, and Italy is also much more lenient
with Ukraine, because orders are pouring in, and those orders are saving their
industry just when it seemed everything would be destroyed by Chinese dumping
of consumer products.


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