In the manufacturing sector, there have been notable increases not only in investment intended for domestic capacity expansion but also research and development investment in anticipation of such developments as changes in market structures. I heard that automobile-related firms in this region have been actively proceeding with advancing next-generation technology such as that concerning self-driving systems and electric vehicles.
First, Europe’s new supervisory structure, based on the European Systemic Risk Board and the three European supervisory authorities, is a major step forward in ensuring that the financial system as a whole is supervised in a more harmonised and coherent fashion. It reflects the full acknowledgement that the externalities deriving from the financial system are no longer national.