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As early as the 19th century, Europe was considered as the world's most competitive powerhouse. Today, the continent's economy is essentially based on the services sector but it remains an industrial power on the world stage. However, the collapse of the steel industry, in particular in the UK, is a clear symbol of decline of the manufacturing sector. At EU level, just 18% of the GDP was represented by industry in 2000 and that figure continued to fall an reached 15% of GDP in 2015. We believe that a sustained growth in the services sector cannot erase the negative consequences of deindustrialisation.Obviously, the entry of new competitors throughout the world is the main explanation for this decline: the textile industry yesterday, the steel and the automotive industry today, and tomorrow high-speed trains and aviation.But it is a mistake to think that in order to support growth in our countries it would suffice to replace "old industry" with "new services". No one doubts that the services sector plays a key role in advanced economies.But nobody denies that industry is essential to the development of a powerful economy: Germany is a good example.In fact, manufacturing and services are strongly intertwined. It is interesting to recall that many experts consider that the highest productivity gains are recorded in the manufacturing sector rather than in services. And they also stress that industry is the very heart of research and development: about 80% of R&D expenditures are carried out by the industry.Therefore manufacturing sector must not be pitched against services sector. Industry remains a strategic asset essential to the prosperity of the European continent.

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