The automotive industry in recent years has truly gone global. The railway industry is not far behind. But the greater the technology required – such as with the aircraft industry – the more it is likely that manufacturing will remain in high-tech countries.
While the EU struggles to implement a growth pact, its airlines must deal with what amounts to a new tax on carbon emissions generated by planes, thereby dampening its competitiveness in these dire times.
Increased competitive pressure from new players such as low-cost Chinese and Indian cars, a diminishing role for direct government intervention in the automotive industry, and an increasingly globalized market are the elements that are leading to a revolution in the sector.