Just because industry moves to Asia (not purely european phenomenon), it obviously doesn't mean EU serves no other function. Or that moving industry is EU's goal per se. It's a bit more complicated and I'm sure you're aware, but it's hard to take you seriously because of such "hot takes".
Most of its other functions are completely negated if Europe becomes an effective vassal of foreign powers. You can prevent war by surrendering pre-emptively, but I don't want to surrender pre-emptively.