Oliveira de Azeméis

Yeah.

Jornal de Notícias reports that an auto sector factory in Oliveira de Azeméis just closed due to insolvency, throwing over three hundred people into unemployment.

Which is a symptom of a much, much broader European shift.

How so?

The auto industry is transitioning rapidly.

Supply chains are incredibly fragile right now, and smaller manufacturing nodes, like the one in Oliveira de Azeméis, are often the very first to break under the pressure of global market forces.

So you have the industrial producing economy faltering while the service and luxury economy booms.

Right.