FlashEconomics26January2018-87PatrickArtusTel.(331)58551500patrick.artus@natixis.com@PatrickArtuswww.research.natixis.comIstherea“high-end”wayoutofdeindustrialisation?Intheeurozone,France,Spain,ItalyandPortugalhavebeendeindustrialisingfor20years.Therearetwowaysforcountriestoovercomedeindustrialisation:?Bypursuinga“low-end”strategy:loweringwagesandlabourcosts,aggressivelyreducingthetaxburden.ThisstrategyhasbeenpursuedbySpainandPortugal;?Bypursuinga“high-end”strategy:raisingproductsophisticationandquality,modernisingcapital,increasinglabourforceskills.CouldFranceandItalysuccessfullypursuethishigh-endstrategy?ThereisnosignasyetthatFranceorItalyispursuingahigh-endstrategy.??DistributionofthisreportintheUnitedStates.Seeimportantdisclosuresattheendofthisreport..https://twitter.com/patrickartushttp://www.research.natixis.com/https: