Dacia factory in Mioveni. Photo: Georgeta Onea / Agerpres
Germany represents 19.1% of our trade, while the US is at 3.6% level, says economist Cornel Ban in Copenhagen. Even more in the new conditions, Europe is due to support its innovation, says the teacher.
The Draghi report showed that the EU remained long after the United States in several areas, including technological innovation.
“But let's not forget that Europe is still a global leader in technological innovation in the industry, it just has to make a financial system and industrial policies to support it on a large scale,” says Cornel Ban, associate at Copenhagen Business School and researcher of Global Development Policy Center at Boston University.
Public funds are needed
“In the rest, of course, I have no much to add to the solutions of this eminent Eurocrat except by suggesting a massive amplification of the public financial sector in the EU and especially of public venture funds to support European innovation,” says Romanian economist Cornel Ban who agrees with Mario Draghi.
“The essence of sustainable economic increases comes from innovation”
He believes that “many niche capital, especially from Cleantech and pharma, will flee to Europe, and a well managed relationship with China can lead to the sharing of Chinese technology with us.” In an interview with Hotnews, Cornel Ban has highlighted what other economists, some Americans, remark: purely technological and organizational, China performs.
“If we are to look at China it is clear that we can take some lessons from there, without having to affect the democratic game, Chinese conductism being a hardcore technologized variant of the most successful conductism in democrats: the French and the Japanese of the post -war period.
I subscribe to the idea that the essence of sustainable economic increases comes from innovation or Chinese conductism from innovation marketed under conditions of maximum competitiveness in the private sector is a formula that is worth studying, which I do in a volume from which I have removed something public ”.
“There are also good reasons for optimism related to Europe”
As for the effects on Romania following the Tax War, Ban argues that the answer can be seen clearly in the graph below. “The US is a minor trading partner for us if we forget about direct exports (3.68 %, about Bulgaria),” he says.
“Indirect exports are the ones that matter, especially through the car sector dominated by Germany and there they are broader (a small warning here to the anti-European from us).
This sector is already fragilized by the competition with Asia and all the climatic dismantles in the world will not save it from a serious crisis as a result of these rates. ”
“Romania is very dependent on the automotive exports to Germany and from there to China. It is seen with the naked eye below,” adds ban.
“There are also good optimism reasons related to Europe. We forget too often that we are a giant and maybe this cold American shower will catch us well in the long run.”
