Europe’s biggest problem: It is falling way behind America’s powerhouse economy
==========
The European economy is underperforming compared to the US powerhouse economy. In 2008, the US and euro-zone economies were roughly the same size, but today the American economy is nearly twice the size of the euro zone. Average European income is lower than in the US, and average wages are stagnant. European leaders understand the problem and have proposed solutions, but change is difficult and populists pose a challenge. Europe lacks a unified market, making it difficult for tech entrepreneurs to navigate different regulations and standards. Europe's defense spending is also inefficient due to lack of coordination and a focus on territorial defense rather than defending the eastern frontiers. The solution to Europe's woes is a deeper, more united, and more strategic Europe, but this would require more power to the European Union, which could fuel populist backlash.
#Europe #Economy #Us #Populism #EuropeanUnion
https://www.washingtonpost.com/opinions/2024/06/14/europe-competition-economy-reform-populism/
The Washington Post /
npub1nw…97m8h
2024-06-14 11:29:31
Author Public Key
npub1nwad78hejfewj63p264uf2sxh0a5az753pw7auscrlupefjtr27sp97m8hPublished at
2024-06-14 11:29:31Event JSON
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"content": "Europe’s biggest problem: It is falling way behind America’s powerhouse economy\n==========\n\nThe European economy is underperforming compared to the US powerhouse economy. In 2008, the US and euro-zone economies were roughly the same size, but today the American economy is nearly twice the size of the euro zone. Average European income is lower than in the US, and average wages are stagnant. European leaders understand the problem and have proposed solutions, but change is difficult and populists pose a challenge. Europe lacks a unified market, making it difficult for tech entrepreneurs to navigate different regulations and standards. Europe's defense spending is also inefficient due to lack of coordination and a focus on territorial defense rather than defending the eastern frontiers. The solution to Europe's woes is a deeper, more united, and more strategic Europe, but this would require more power to the European Union, which could fuel populist backlash.\n\n#Europe #Economy #Us #Populism #EuropeanUnion\n\nhttps://www.washingtonpost.com/opinions/2024/06/14/europe-competition-economy-reform-populism/",
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