Reindustrialization or servitization: trade tendencies in the European Union internal market
Reindustrialization or servitization: trade tendencies in the European Union internal market

Author(s): Adam A. Ambroziak
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, International relations/trade, Law on Economics, EU-Accession / EU-DEvelopment, EU-Legislation, Commercial Law
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: European Union;reindustrialisation;servitization;EU internal market;
Summary/Abstract: Recently we have been hearing more and more often about the need of reindustrialization in the European Union. Following the period of fascination with the development of the service sector, European politicians started seeking a way to boost economic growth through support to industry. The challenge currently facing the EU is the future of the single internal market. On the one hand, it remains a viable tool of EU economic growth, which is politically reflected in the new internal market strategy for goods and services announced by the European Commission for 2015. On the other hand, after the period of economic crisis some Member States have intensified their protectionist attitudes. Based on the analysis of trade in goods and services in the EU internal market in the light of worldwide tendencies we will highlight the up till now trade trends within the EU and specific areas, in which the EU enjoys comparative advantages; we will also identify directions for further EU development taking account of economic challenges. The analysis confirms increasing importance of intra-EU trade in services. Nevertheless, it is hard to conclude that it happens at the cost of trade in goods as the extra-EU exports are clearly on an upward trend. This is more a confirmation of servitization of economic activities in the EU, especially with respect to trade, rather than a reflection of the need of reindustrialization.

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