EU cannot keep pace with US and China in economic growth
“Política Exterior” magazine carries out a comparative analysis of the economic growth of the European Union (EU), the United States (US) and China. In its opinion, Europe's decisions in recent years have highlighted its weaknesses in the struggle for global leadership. Europe's slower economic growth would be the consequence of its failure to lead in some of the leading sectors, poor policy decisions, and its inability to keep pace with the US and China, not least because of a less flexible regulatory framework. On the positive side, the EU has established itself as the welfare region par excellence.
Key points of the article:
The economies of Europe and the UK are growing well below those of the US and China:
Slower economic growth would be the consequence of Europe's failure to lead in any of the leading sectors:
Regulatory impact: According to the article, Europeans find it almost impossible to keep pace with the US and China in economic growth because of strict state aid laws and the inability to promote large national champions due to competition rules.