The Intelligence from The Economist Continental drift: Europe’s challenges
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Dec 13, 2022 
Henry Kerr, Economics editor for The Economist, unpacks Europe's immediate energy crisis and the looming impact of American policies on its green ambitions. Kinley Salmon, the West Africa correspondent, provides an eye-opening look at the cocoa industry in Ivory Coast, spotlighting the struggles of local farmers caught between welfare and market demands. Catherine Nixie, the Britain's correspondent, reveals the rich historical narratives embedded in London's street names, illustrating how they reflect societal values and the city’s evolving identity.
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Europe's Dual Crises
- Europe faces a short-term energy crisis and a long-term investment crisis.
- The energy crisis stems from reduced Russian gas supplies, while the investment crisis involves fears of losing green energy investments.
Impact of Bidenomics
- Biden's economic policies, including the Inflation Reduction Act, are drawing investment away from Europe to America.
- This poses a threat to Europe's long-term economic prospects, particularly in green energy and electric vehicle production.
Northvolt's Shift
- Northvolt, a Swedish battery startup, announced plans to expand production in America following the Inflation Reduction Act.
- This highlights how European businesses are responding to American incentives.