Europe has fallen behind America and the gap is growing

[Alexanderr]

Europe has fallen behind America and the gap is growing

From technology to energy to capital markets and universities, the EU cannot compete with the US

www.ft.com

Spoiler: UNPAYWALLED

Europe has fallen behind America and the gap is growing From technology to energy to capital markets and universities, the EU cannot compete with the US

The Ukraine war has revived the transatlantic alliance. But the relationship between the US and its European allies is increasingly lopsided. The US economy is now considerably richer and more dynamic than the EU or Britain — and the gap is growing. That will have an impact well beyond relative living standards. Europe’s dependence on the US for technology, energy, capital and military protection is steadily undermining any aspirations the EU might have for “strategic autonomy”. In 2008, the EU and the US economies were roughly the same size. But since the global financial crisis, their economic fortunes have dramatically diverged. As Jeremy Shapiro and Jana Puglierin of the European Council on Foreign Relations point out: “In 2008 the EU’s economy was somewhat larger than America’s: $16.2tn versus $14.7tn. By 2022, the US economy had grown to $25tn, whereas the EU and the UK together had only reached $19.8tn. America’s economy is now nearly one-third bigger. It is more than 50 per cent larger than the EU without the UK.”

The aggregate figures are shocking. Underpinning them is a picture of a Europe that has fallen behind — sector by sector. The European technology landscape is dominated by US firms such as Amazon, Microsoft and Apple. The seven largest tech firms in the world, by market capitalisation, are all American. There are only two European companies in the top 20 — ASML and SAP. Whereas China has developed domestic tech giants of its own, European champions are often acquired by American companies. Skype was bought by Microsoft in 2011; DeepMind was bought by Google in 2014. The development of AI is also likely to be dominated by American and Chinese firms.

The leading universities that feed the pipeline of tech start-ups in the US are lacking in the EU. The Shanghai and THE rankings of the world’s top universities both have only one EU institution in the top 30. (Britain does better — courtesy of Cambridge, Oxford, Imperial and others.) In 1990, Europe made 44 per cent of the world’s semiconductors. That figure is now 9 per cent; compared with 12 per cent for America. Both the EU and the US are rushing to build up their capabilities. But while the US is expected to see 14 new semiconductor plants come on stream by 2025, Europe and the Middle East will add just 10 — compared with 43 new facilities in China and Taiwan. Both the US and the EU are looking to turn this situation around with ambitious industrial policies that provide public finance and incentives for chip manufacturers and producers of electric vehicles. But the dollar’s status as the world’s reserve currency gives the Americans the ability to finance their ambitions, without spooking the markets. As one European industrialist puts it: “They can just swipe the credit card.” The EU, by contrast, has a much smaller budget and has only just begun issuing common debt.

Private capital is also much more readily available in the US. Paul Achleitner, chair of the global advisory board at Deutsche Bank, says that Europe is now “almost totally dependent on US capital markets”. He tells me that Europe has very few of the large pension funds that give depth to the US capital markets, adding that: “If you want to get anything sizeable done — whether it is an acquisition or an IPO — you always go back to American investors.” The EU has spoken a lot about creating a “capital markets union” to give Europe some of the scale of the US. But progress has been feeble. Unlike Europe, the US also has plentiful and cheap domestic supplies of energy. The shale revolution means that America is now the world’s largest producer of oil and gas. Meanwhile, energy prices in Europe have soared. The Ukraine war and the loss of cheap Russian gas mean that European industry typically pays three or four times as much for energy as their American competitors. Gloomy European bosses say this is already leading to factory closures in Europe.

Some in Britain may be tempted to see all this as proof that, inside the EU, Britain was “shackled to a corpse” and that Brexit was a good move. But, outside the European single market, Britain suffers from an exaggerated version of the problems of scale that are hobbling the EU itself. British industry is already falling behind, as a result. So are there really no areas where Europe is a world leader? Some point proudly to the fact that the size of the EU single market means that companies all over the world have had to adopt European regulations — the so-called “Brussels effect”. But it would clearly be better to lead the world in creating wealth, rather than regulating it. Europe does outperform in “lifestyle” industries. Almost two-thirds of the world’s tourist arrivals are into Europe. The luxury goods market is dominated by European companies. Football, the world’s most popular sport, is dominated by European teams — although many of the biggest clubs are now owned by Middle Eastern, American or Asian investors. Europe’s dominance of lifestyle industries underlines that life in the old continent is still attractive for many. But perhaps that is part of the problem. Without a greater sense of threat, Europe may never summon the will to reverse its inexorable decline in power, influence and wealth.

Interesting article, that I do agree with. If you're a young and ambitious person, the U.S. is the place to be.
For the most part, Europe is as rich as it is today because Europeans were the first ones to industrialize. We're the ones that colonized the world and its resources, centuries of dominance have allowed us to build lots of wealth. Nevertheless, we now live in a globalized world and there's competition present that wasn't there 300 years ago.
Europe's current strategy is more so to protect what it has than to grow.

 

[St.TikTokcel]

Europe has fallen behind America and the gap is growing

From technology to energy to capital markets and universities, the EU cannot compete with the US

www.ft.com

View attachment 2298296
Interesting article, that I do agree with. If you're a young and ambitious person, the U.S. is the place to be.
For the most part, Europe is as rich as it is today because Europeans were the first ones to industrialize. We're the ones that colonized the world and its resources, centuries of dominance have allowed us to build lots of wealth. Nevertheless, we now live in a globalized world and there's competition present that wasn't there 300 years ago.
Europe's current strategy is more so to protect what it has than to grow.

Water. Most of the jewropean countries are U.S puppet states.

 

[Sens]

water, Europe fell in 1945, now u just see the consequences of that.

 

[BoneDensity]

Europe is done economically unless we kick out the jews

 

[BoneDensity]

and destroy israel

 

[Alexanderr]

Water. Most of the jewropean countries are U.S puppet states.

From what I can tell most Europeans are blissfully unaware or have no problem with it.

 

[Alexanderr]

water, Europe fell in 1945, now u just see the consequences of that.

Europe's welfare state was never going to allow them to be competitive on a global stage, in addition to the ageing population and unskilled labour we import. The U.S. imports highly-skilled grads and we import migrants with no schooling that'll work (if they work) as construction workers or garbage men.
The only reason we're still ahead of so many countries is that we had a headstart of a couple of centuries and are just riding that out.

 

[Deleted member 31155]

"b-but america has bad healthcare and school shooters!"

 

[enchanted_elixir]

Europe has fallen behind America and the gap is growing

From technology to energy to capital markets and universities, the EU cannot compete with the US

www.ft.com

View attachment 2298296
Interesting article, that I do agree with. If you're a young and ambitious person, the U.S. is the place to be.
For the most part, Europe is as rich as it is today because Europeans were the first ones to industrialize. We're the ones that colonized the world and its resources, centuries of dominance have allowed us to build lots of wealth. Nevertheless, we now live in a globalized world and there's competition present that wasn't there 300 years ago.
Europe's current strategy is more so to protect what it has than to grow.

stupid decision from euros, economic stagnation + high taxes + no innovation + mass immigration = crisis

 

[Octavian_Augustus]

Where are you from OP?

 

[Alexanderr]

Where are you from OP?

The Netherlands.

 

[St.TikTokcel]

From what I can tell most Europeans are blissfully unaware or have no problem with it.

You really expect normalfags to care about economy and shit? As long as they have their needs covered, they won't give a fuck.

 

[Alexanderr]

You really expect normalfags to care about economy and shit. As long as they have their needs covered, they won't give a shit.

Ironically enough, a stagnating economy won't finance those needs much longer because it's simply unaffordable. Increased house prices, energy prices, longer queues because of a shortage of workers, etc. all are more and more common here in Europe.

 

[LowTrust]

falling behind america in what? Being ignorant retarded delusional cucks?

 

[Alexanderr]

falling behind america in what? Being ignorant retarded delusional cucks?

Economic growth, technology, artificial intelligence, higher education, semiconductors, private capital, energy, EV production, etc. You know, just things that'll shape the 21st century.

 

[Deleted member 18582]

falling behind america in what? Being ignorant retarded delusional cucks?

 

[Deleted member 18582]

@blackckatt Thoughts?

 

[LowTrust]

Economic growth, technology, artificial intelligence, higher education, semiconductors, private capital, energy, EV production, etc. You know, just things that'll shape the 21st century.

and a impossible to pay off dept that they will have to default on by 2025, while also being the #1 target for BRICS

 

[Mastermind]

Exactly what the article said
You have literally zero reasons to open a business here in Europe
You're either on welfare or being scammed by the government

"b-but america has bad healthcare and school shooters!"

I call out and laugh at this retarded cope everytime some fag comes out with it

 

[Danish_Retard]

Greatest place to be born. I'll be paid 1000€/month just to attend free university.

Then once I had a PhD from a top 50 global university for free I can move to America. Born to win.

 

[Artemis]

Greatest place to be born. I'll be paid 1000€/month just to attend free university.

Then once I had a PhD from a top 50 global university for free I can move to America. Born to win.

Wait... but you are not holding your side of the deal:

AFTER you graduate, you are supposed to suffer with 50%-tax

 

[Alexanderr]

and a impossible to pay off dept that they will have to default on by 2025, while also being the #1 target for BRICS

I don't think you understand. The U.S. dollar's status as the world's reserve currency means the debt isn't as alarming as it appears.

Much of this debt is an investment stimulating their economy, which seems to be working as they're not stagnating. The demand for dollars and their capacity to generate economic growth from debt significantly mitigate the perceived risks. Whereas Europe is unable to finance its ambitions as easily.

Great, they're that #1 target for BRICS, now let's see if that'll amount to anything instead of lofty goals and empty promises.

 

[Debetro]

Greatest place to be born. I'll be paid 1000€/month just to attend free university.

Then once I had a PhD from a top 50 global university for free I can move to America. Born to win.

What country?

 

[Emiqrox]

Water

 

[Alexanderr]

Exactly what the article said
You have literally zero reasons to open a business here in Europe
You're either on welfare or being scammed by the government

Europe is actively undermining itself. Even if I did want to start a business here, the difficult-to-navigate policies, overbearing regulations, and high taxation would discourage any entrepreneurial initiative.

 

[Interested]

Water. Most of the jewropean countries are U.S puppet states.

Agreed, even a broken clock is right twice a day.

 

[LowTrust]

I don't think you understand. The U.S. dollar's status as the world's reserve currency means the debt isn't as alarming as it appears.

Much of this debt is an investment stimulating their economy, which seems to be working as they're not stagnating. The demand for dollars and their capacity to generate economic growth from debt significantly mitigate the perceived risks. Whereas Europe is unable to finance its ambitions as easily.

Great, they're that #1 target for BRICS, now let's see if that'll amount to anything instead of lofty goals and empty promises.

de-dollerization is going to stop this

Countries worldwide are dropping the US dollar: De-dollarization in China, Russia, Brazil, ASEAN - Geopolitical Economy Report

Global de-dollarization: Countries seek alternatives to US dollar hegemony, using local currencies in trade in China, Russia, Brazil, India, ASEAN, Kenya, Saudi, UAE

geopoliticaleconomy.com

next big players: China, Russia, India, Saudi Arabia

The puppeteers in control of everything all along: Israel

 

[Alexanderr]

Agreed, even a broken clock is right twice a day.

 

[Interested]

It means that even @St.TikTokcel can say something smart

 

[Ragnar]

its safer and you live happier lives here, imagine actually thinking "economic growth" of your nation will influence your happiness

 

[Alexanderr]

its safer and you live happier lives here, imagine actually thinking "economic growth" of your nation will influence your happiness

Is this sarcastic?

 

[Ragnar]

Is this sarcastic?

no, tell me how im wrong

 

[AutisticGymcel]

Europeans are simply smarter. They have a strong social safety net with lots of job security and government mandated vacation time. Meanwhile the majority of Americans slave away 24/7 to finance the European lifestyle. Americans are cucks.

 

[Alexanderr]

no, tell me how im wrong

Economic growth increases living standards via increased income, job creation, and reduced poverty. It allows governments to enhance public services, foster tech advancements, and develop infrastructure. It strengthens social security, extends life expectancy, supports environmental sustainability, improves education, and fosters political stability.

 

[Ragnar]

Economic growth increases living standards via increased income, job creation, and reduced poverty. It allows governments to enhance public services, foster tech advancements, and develop infrastructure. It strengthens social security, extends life expectancy, supports environmental sustainability, improves education, and fosters political stability.

yes that is def gonna improve my life in my farm in Switzerland with my homeschooled children

 

[Mastermind]

Europe is actively undermining itself. Even if I did want to start a business here, the difficult-to-navigate policies, overbearing regulations, and high taxation would discourage any entrepreneurial initiative.

This place is actually a paradise for NEETs but yeah you gotta move to the US or Switzerland the moment you start making actual money by yourself (if you are high IQ and lucky enough to do that)

 

[Alexanderr]

Europeans are simply smarter. They have a strong social safety net with lots of job security and government mandated vacation time. Meanwhile the majority of Americans slave away 24/7 to finance the European lifestyle. Americans are cucks.

Right, so who will pay for the cushy European lifestyle? It's pretty obvious that it's not sustainable, especially if your economy stagnates.

 

[Ragnar]

Economic growth increases living standards via increased income, job creation, and reduced poverty. It allows governments to enhance public services, foster tech advancements, and develop infrastructure. It strengthens social security, extends life expectancy, supports environmental sustainability, improves education, and fosters political stability.

literally nothing here gives happiness, why should i care

 

[Mastermind]

literally nothing here gives happiness, why should i care

You should not care if your life expectations are low or inexisting
Matter of fact if that's your mindset you should emigrate in Europe and LDAR leeching off taxpayers

 

[Ragnar]

You should not care if your life expectations are low or inexisting
Matter of fact if that's your mindset you should emigrate in Europe and LDAR leeching off taxpayers

what is a high life expectation? multimillionaire lifestyle? do you think that will lead you to happiness?

im already in eu

 

[Alexanderr]

This place is actually a paradise for NEETs but yeah you gotta move to the US or Switzerland the moment you start making actual money by yourself (if you are high IQ and lucky enough to do that)

There's a reason there are more Europeans trying to enter the U.S. than there are Americans trying to enter Europe. Euros are increasingly noticing the widening gap in pay with reduced taxes for the very same profession across the pond. This isn't exclusive to STEM either.

The notion you could make 2x to 3x as much working your very same job elsewhere is too attractive for many. Hence lots of people try to move there with the notion of working a few years, saving up a shit ton and moving back but the longer they stay, the harder it becomes to leave.

 

[Mastermind]

There's a reason there are more Europeans trying to enter the U.S. than there are Americans trying to enter Europe. Euros are increasingly noticing the widening gap in pay with reduced taxes for the very same profession across the pond. This isn't exclusive to STEM either.

The notion you could make 2x to 3x as much working your very same job elsewhere is too attractive for many. Hence lots of people try to move there with the notion of working a few years, saving up a shit ton and moving back but the longer they stay, the harder it becomes to leave.

Yes moving over to EU doesn't make the slightest sense unless you are looking for easy neetbux

 

[Deleted member 19174]

Over for the European Union of Cucks

 

[antsosa]

now imagine if the US guaranteed visa's for recent college graduates overseas. Brain drain the Earth of all it's elite high IQ people. It'd be OVA

 

[Deleted member 11126]

Europe has fallen behind America and the gap is growing

From technology to energy to capital markets and universities, the EU cannot compete with the US

www.ft.com

View attachment 2298296
Interesting article, that I do agree with. If you're a young and ambitious person, the U.S. is the place to be.
For the most part, Europe is as rich as it is today because Europeans were the first ones to industrialize. We're the ones that colonized the world and its resources, centuries of dominance have allowed us to build lots of wealth. Nevertheless, we now live in a globalized world and there's competition present that wasn't there 300 years ago.
Europe's current strategy is more so to protect what it has than to grow.

The only advantage Europe had over America was demographic. America has much more space no natural enemies so its never been destroyed. America is full of the least exceptional people and the most Europe is mediocre although now its becoming less then that with 3rd world immigrants.

Used to want to go to Europe but Western Europe is more fucked France has worse race riots then America. Asia or Eastern Europe is the future of the civil world and parts of America depending on the future will be okay. Europe is over specially France and Britain and to a lesser extent the rest of Western Europe

 

[Deleted member 29495]

europe and japans gdp per capita used to be higher or equal to the US, ever since the financial crisis in 2007 EU has had flat gdp growth due to austerity economic policies (japan too for a plethora of other reasons) rather than quantiative loosening like the US implemented (keynesian economics of spending = growth and recovery), which turned out to be the wrong choice

now EU has fallen behind us GDP per capita (uk and france at around 2/3rd, germany and richer smaller states at 80-90%) and their high growth industry (tech, software) has been lackluster relative to silicon valley due to policies/bureaucracy, access to liquidity and capital raising, tax rates, etc

add in the current war and chinese companies kneecapping european industries and sectors and the EU is done for as a collective superpower that had a higher GDP than the US just a few years ago

now theyre behind china and the US GDP wise and expected to have flat growth for the next few years and shitty (even declining) demographics for the indefinite future

 

[Crusile]

lol europoors still coping by blaming "the welfare state". Nope, you just got owned by the Top Dog (USA). Nerdics (leader of the europens) are dumb, retarded, slow, racist, and zenophobic.

 

[tallnegga]

Economic growth, technology, artificial intelligence, higher education, semiconductors, private capital, energy, EV production, etc. You know, just things that'll shape the 21st century.

Higher education? Are you actually from America? Our colleges are getting more and more retarded every year and test scores in schools have been falling. Americas economy is absolute shit right now too on the verge of collapsing. The only thing that kept America number 1 was bullying faggots with their huge military and making them use the dollar as a forms of exchange which many countries now are looking for an alternative to

 

[Alexanderr]

Higher education? Are you actually from America? Our colleges are getting more and more retarded every year and test scores in schools have been falling. Americas economy is absolute shit right now too on the verge of collapsing. The only thing that kept America number 1 was bullying faggots with their huge military and making them use the dollar as a forms of exchange which many countries now are looking for an alternative to

Read the article.

 

[Crusile]

The notion you could make 2x to 3x as much working your very same job elsewhere is too attractive for many. Hence lots of people try to move there with the notion of working a few years, saving up a shit ton and moving back but the longer they stay, the harder it becomes to leave.

This is also applies to every other non-european 1st world country, stfu, yes US is the top dog. Their wages are high BECAUSE they limit annoying europeans from "immigrating" "for american purchasing power" and bringing down wyte collar wages that belong to WASPs, hindus, and chinese. lol get owned.

european standard of living is fine, plz stop crying. Most young americans would prefer to live in nice european cities with 5 week vacations