I don't think that's necessarily the case. The Bretton Woods era produced national industries when finance wasn't as unrestricted. Though what happened is more or less the same as today. Companies like Alstom were competitive but got Huawei/TikTok'ed (executive arrests, forced sales etc). The EU just doesn't have the structural resilience to compete with the US shifting the Nash equilibrium.

https://www.straitstimes.com/asia/east-asia/former-exec-of-f...