Can Europe's economy catch up with the US and China? | Counting the Cost 

Short answer: No. Long answer: No way.

The title should be "will EU make America great again"

The will is gone, the mean is gone, but the arrogance is still strong.

We know before Covid and the war, EU had been steadily declining for decades already. What makes some people think EU can turn around this time, amid huge obstacles, e.g. energy crisis, aging workforce, rise of Far Right, fierce competition from China? They could not do it even in their best time.

Do we want to be competitive? Wages are stagnating on my area while prices are rising and the rich are getting richer. Why should I care about productivity and competitivity if I dont see any incentives about it??

India will never replace China as the premier global manufacturing hub, they are too far behind in terms of infrastructure, manufacturing technology and human resources. Meanwhile, China is powering ahead in robotics and automation, and Fintech. Modi may think appealing to the USA to power India is a good idea but the US s currently focused on resurrecting it's own tattered industrials and not doing well at it (look at the stalled EV industry).

Not Anchoring your economic interests with the US would be a start

Europe bombs following US. China builds with BRI 😂😂😂

Europe wants to work less but then ask why they are falling behind

A good start for europe would be to stop following the US steps and pursue their own economic interests. The best example would be ASML's sales of UEV machines to China which are impossible due to US pressure on Dutch government. That means billions of dollars in revenue that ASML is losing and that could be reinvested in R&D to keep leading the sector.

Colonial master cannot get cheap labor and cheap raw material now compare to 150 years ago

Europeans have lost the ambition of becoming the number one economy one the world, start by economy and technology independence first, then Europe can pursue foreign policy independence.

If they stopped following the US around and focusing on their competitive advantages, probably

They can not. america will never let european countries to become better economy than america. Because that means europe countries will become too independent and that will mean no more american control and influence on european countries

US economy = printing money

supporting US in Ukraine war is a bad idea

Old dogs can't play new tricks. The prescriptions prescribed by the United States to Europe and as Germany did to Greece in those years.

europe should stick to being a tourist destination , they should focus on resorts and hospitality industry. serving the rich china

Europe is paying too much attention to America.

Americans live under looming financial stress. Subsidized education makes it easier to justify studying things that are less lucrative and more interesting. In aggregate, America has a load of people putting tech and finance degrees to use and the cumulative effect is obvious. Now we're deep in the realm of a completely different ground truth - what it means that the US spent so long focused on this and now includes it as a fundamental part of identify? Between the CAF, and social saftey nets, its not really that surprising that more people by % pursue lucrative careers in the US - we dont have alternatives and die if we dont.

Nope, because Europe’s talents are going to the US because of the higher pay grade. While Europe keeps bleeding the average European to the bone.

Europe's obsession with wars is dragging it down

The EU was a nice idea. Imagine the combined strength of 27 countries, with population larger than the US at 448 millions. Then the industrial powerhouses such as Germany, Italy, France being the top three among them. But the 27 EU countries are not homogeneous in terms of culture, beliefs and objectives. Each nation has own national interests which can be incompatible with other EU countries. Think of a row boat with 27 rowers. If every rower strokes in syn with each other, the boat would be moving in knots. But in reality, it is the opposite. For a start, the 27 nations have varying industrial bases, with varying strength. Germany has a strong industrial base, but other EU nations are not. So essentially the idealized scenario where all 27 nations row in syn is highly implausible. And that is why Germany is the major financial contributor to the EU, while the bottom ranking EU nations are merely getting freebies off the EU. As hard as Ursula Von Der Lying tries, EU is never going to be one significant political block with economic prowess to match. The Ukraine war busts open the veneer of the EU. Basically the EU is but a group of three major nations namely Germany, Italy and France. The rest of the 27 are but there to make up the number, to conjure a perception that the EU is a significant block to be reckoned with. The way the EU surrendered its foreign policy making to the US in the current Ukraine war clearly depicts a weak conglomerate which prefers to be led, rather than to lead. Perhaps the EU should cease pretending that it is as significant as it really is, and to start working out some coherent policies of its own, and not to follow US all the way.

EU has to work closely with democratic countries in the BRICS block. v, South Africa and Brazil are the best candidates

The way to curb down migration perhaps retention of skilled workers by better perks

Usa = innovate China = dublicate Europe = regulate 😂😅

you cant do that when the cost of living is dear thats y briton cant make cars and electrics .

Europe's future looks bleak. Europe thrived because of cheap energy from Russia, substantial American funding and investment during the Cold War, a stable demographic, and a healthy society. Now, that energy is gone, American investment has waned, the population is shrinking with poor demographics, and open borders have led to increased crime. Even once-model countries are now struggling with terrorism and gang. Additionally, tremendous debt from socialist leaders has run the continent into terrible shape. Who will rescue Greece, Italy, or Spain in the next crisis cycle? It's over for them.

"We need a European Union for today" says Mario. Well, there is NO chance of that happening with your current grossly bloated bureaucracy, with Ursula at the top and the toady Michel her assistant. You need to start from scratch, and good luck with that attempt.

They're too busy becoming Africa to compete with China and US😂

EU is too woke ?

🤣 With more expensive energy , Europe already lost the competition at the starting point.

The biggest probelm right now for EU is energy cost... forget about being competitive without the affordable energy cost... if they dont like russian gas, they should import China renewable, but force it to be manucature in eastern Euro. They can make agreement with China as well for technology transfer or at least partnership (because they just cannot acknowledge china having the most cutting edge technology for solar panel) Start from them, they can bring back heavy industries that went to USA EU has a strong points on nano technologies and pharmaceutical, as well as high precision machinery... It is just a political matter,because doing so will push them closer to china and be outside of USA reach

EU should shift some industries to least developed EU nations, that will boost its economy.

High GDP doesn't mean less disparity. Dutch was richest country, they knew the answer, or ask Singapore.

Create an aljeezra terminal at a reasonable price for avg users. Bloomberg terminal cost like 10,000 dollars a month. There is a market for retail investors

Industrialisation 3.0 - robotics manufacturing and move up the value chain. That said, I don’t see any Europe catching up due to wrong priorities when the rest of Eurasia focuses on its economy

And to think that the EU bureaucrats could have made EU competitiveness significantly higher by not siding with the US to try to make Ukraine into a vassal, and instead securing cheaper resources from Russia...

There are many people worried about Europe, but they shouldn't. Here are the least corrupt countries, the highest HDI and lowest crime rates, with universal health care. It is where life is best. And economically, all the countries in the East are developing at a great speed (once communism was over and the transition to a capitalist economy was made). This means 100 million people with increasing purchasing power and also a higher GDP for the EU, at least until 2050 when these countries will reach a high level of development.

Governments and major companies need to abandon the neoliberal employment-supply model, which assumes that 18 year olds are reading market reports for deciding their future careers, and return to training new employees for essential future needs. We can't keep stealing essental workers from other countries to fill the gap.

9:19,---“...Markets need to be liberated.” From what? Regulations. If the EU Parliament and the EU Commission relax regulations on markets the European market will get flooded with American products formerly barred from sale in the EU countries. Washington loves this economist, they sing the same song. Economists often forget, undermine, or do not know that industry is guided by economic laws of its own not compatible to market laws. If they deregulate production and industry than the two main side effects of automation on the job for workers is a higher productivity from less workers, and the secondary effect of automation is less working time on average is required from a working class to make what the economy needs. What happens to all the displaced workers in a new economy where it takes less working time to make the goods a given nation needs? Large sections of the working class remain permanently unemployed is what happens. A breeding ground for a new form of fascism and socialism. Economic stagnation and chronic unemployment generation after generation will bring the EU to its end.

it's not mainly because there's more "action" outside of the EU that the educated leave.. It's also because they get taxed at ridiculous rates. These taxes don't benefit them as much as they should. Infrastructure is still stuck in the 1970's, crime rates are sky rocketing. It's as if the educated and higher earners are getting milked just to pay for the destructive people's social benefits, and to pay to repair the destruction that they cause. Instead of pushing these unproductive immigrants and locals to be productive, the high earner's salaries stagnate in growth and taxes kill their hard work

Europe needs to become far right wing then it will be the best place competitively!

EU could be chowing on retirement savings by welcoming people in their 50s who will bring their superannuation with them and spend locally in housing, in healthcare, in good and services. Instead Blackrock, Bain, Brookfield are busy buying up retirement housing models to hoover up everyone's inheritances.

Europe stopped being innovative since early 20th century, and it was further sealed with advent of welfare state funded by high taxes. The reward to effort ratio is far too flat. Hence, instead of innovation Europe focusses on plain vanlla things at higher reliability and efficiency (e.g. luxury merchandise and elegant cars). Then there are cultural issues: the regimented culture punishes outliers: it hammers failure much more than it prizes success. Dissent and innovation are 2 sides of the same coin. If Europe does not allow the former, it cannot get the latter. Additionally, it fails to attract the traditional skilled migrants like Chinese and Indians, instead turned itself into a magnet for functionally illiterate mass migrants from MEA.

EU need to make decisions for the EU people interest not for the US elite interest. 1) No Ukraine in Nato expansion. Invest money for the peace not for war. 2) EU defense pact instead of Nato. 3) Trade with China, India, Russia, and US. Grow with the world not putting the effort to suppress the will of billions population in China, India,and Africa.

The EU productivity is weaker because it lacks a capital union, common language, and pro-investmemt culture like the USA and China. Productive business does better in the USA and China because they have a very large single market with more common rules & language.

The issue is whether you'd rather live in China or the EU. America looks like its got huge problems coming down the pipeline. Yes, leisure is unproductive, but that's the decision we make rather that being chained down to 2 weeks annual holiday like the US etc. Would I want to live in California or NY...No.

I wouldn’t want an economy based on the “animal spirits” of the market. Without direction and purpose, the “animal spirits” of the market more often than not produce economic chaos.

The biggest mistake Modi did was that he asked for majority during election campaign for non-economic related reforms rather than economic reforms

Thank you Adrian sir for reporting on our india poverty poor people 💜💐 our modi sir only bussy in becomeing pm doing Hindu Muslim Christians Sikhs

The anwsers is simple. Stop being america's beech. That's your answer 🙄🙄🙄🙄

the taxes are too high, regulations are too strict and too many, and at least here in Western Europe, the social welfare system is about to implode soon. The poor are meant to stay poor, and meritocracy doesn't work. Huge wage increases are incredibly rare, and most people earn

China and India will grow in near future. Other developed economies fall continues.

Europeans flowed to the United States. Under the instigation of the United States, Europe lost cheap energy, and Europe weakened further.

We need to have waaay more European babies to support us if we are serious about growing

On paper, the European Union looked like a can't miss project. And then, as the decades went by, the bureaucrats took over. And these were not minor league bureaucrats, they were, and still are, from the major league of bureaucracy in 27 countries. The EU is bureaucratic heaven on earth.

amurica: jump europe: how high?

Only grandpas and grandmas in power, what to expect.

Smart Europeans already moved to the U.S. or died.

Trump vs European far right 😅 i can't wait

So no basically

Vassal position can only after the master.

Your time is up. It's asia's time now

Not with their work ethic currently.

No. Too divided. EU needs to unify snd put Europe first.

US will never let that happen.

More colonies 😅😅😅😅😅😅

Yes, if EU makes peace with Russia and don’t be a US lackey

..❣️🇧🇩🤝🏻🇨🇳❣️..

Europe has a brain drain issue. All the smart ones have left the country and working in other countries such as the United States. The Europeans high tax system is also a burden that has become a driving force for many young people to leave the continent. If Europe wants to be competitive against the US and China than they need to really do something drastic.

Have more kids.

The thumbnail has the word “competitive” misspelled

How can European countries be competitive, economically speaking? Is this a joke???????

The Europeans are way too socialist , and protectionist to compete. The rest of the world works harder. France has a legal 35 hour working week, that’s laughable in the rest of the world. I’m from Australia and told my in laws most Australians don’t want European cars because they are unreliable. They didn’t believe me, they thought it was based on cost.

Europawns 😂

You dont give plenty of vacation holidays, work much less hours, and 1 year of parental leave and complain about earning less than American counterparts. We have none of those and we have to work nonstop

Absurd high tax rates makes it so people can't invest... and if they invest they don't invest in Europe.

Brics

No way

There is a price to pay for keeping social security for all and trying to reduce poverty. So: NO

EU has to work closely with democratic countries in the BRICS block. India, South Africa and Brazil are the best candidates

They lost their competitiveness when they started to supporting the American narrative.

Whaaa? “Working hard is a thing now” happens to EU around 2023-2024? I thought most nations already been thru that phase.

Europe has never wanted to beat the us economically thats why they will never catch up

By understanding that totalitarian/dictatorship is not good for democracy.

Yes if stable population growth ever returns and 30+ of stable peace continues.

How can , when all cost is too high. This is business not Geopolitic

The stange thjng is that eu gdp is bigger or same as usa nominal

Hello 🖐️ ADrin sir

EU sacrificed themselves to achieve US😂😂😂

How about European workers work more hours?

These economic interests are going harder and deeper?

Europe is going to be poor at the end of 2050

Free world from those don't know and we here period.

EU has to work closely with democratic countries in the BRICS block. India, South Africa and Brazil are the best candidates

Stop taking such long breaks!

Good luck, that’s all I can say.

Yea, a collection of social democracies versus a commie dictatorship and a libertarian free for all? Do you even think about the question you're posing in the headline?

By charging more tariffs.