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Great article Jerome... and as others have said, great positioning ability to get it into the WSJ.

One nitpick, maybe it shows I'm an unrealistic left-winger at heart, but I would say that protecting national champions is not always a bad thing. Renault is a success now in part due to the aid and protection it received in the past when the car market was undergoing some enormous flux.

Without that protection it may well have ended up like Rover. When a champion is sold to foreign interests, in the end it moves production away. When it does so the manufacturing base (light engineering and technology) can suffer dramatically. I believe this is part of the decline of the UK in every sphere other than financial services...

by Metatone (metatone [a|t] gmail (dot) com) on Fri Aug 19th, 2005 at 06:20:51 AM EST
How I agree with you. The UK really sold its manufacturing base down the river, and large portions of the industrial working class with it.

But I don't think Jérôme is against defending national industries (though he'll speak for himself). Let's say there's a certain French, central-statist way of doing it that might seem (anyway, seems to me), pretty much out-of-date and out-of-touch with the country and the people as a whole.

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Aug 19th, 2005 at 06:33:05 AM EST
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