A manufacturing network that is closing down. Export market shares in the world keep falling. The best Europe can do is to protect whatever they can keep of the past glories. That should be good enough!
Europe is good at funding 1980s ideas, with stillborn well-connected development teams, using hard-earned tax payer money, with no results expected, just for bureaucratic self-service.
Europe is not good at promoting growth on the other hand. Living standards have fallen in the last 20 years.