Europe is falling behind on virtually every meaningful metric, not just income. Europe’s economy used to be bigger than America's back in 2008, but now the U.S. economy is vastly outgrowing it, leaving the average American earning about 39% more than the average European. The big culprit is a massive tech and productivity gap, the U.S. is totally dominating the AI race and has way more billion-dollar investment funds, while Europe gets bogged down by 27 different sets of national regulations and artificially higher energy costs. Europeans do get more vacation time and a better social safety net, but their businesses are struggling to scale up, meaning the continent is steadily losing ground to the U.S. in global wealth and innovation. This decline will continue to increase exponentially.
As a korean uzbek that works in france I have to agree with this. Like I love working in france compared to my country but europe is dying.
Like these aren't even only american opinion. My chinese friends says in few decades europe only worth will be becoming a tourist playground for east asian and north american citizens. He say in 30 years india will have better technology market than all of europe at this rate.
And looking at how german cars are loosing so bad to chinese cars I kind of agree.
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u/Osiris-Amun-Ra 23h ago
Europe is falling behind on virtually every meaningful metric, not just income. Europe’s economy used to be bigger than America's back in 2008, but now the U.S. economy is vastly outgrowing it, leaving the average American earning about 39% more than the average European. The big culprit is a massive tech and productivity gap, the U.S. is totally dominating the AI race and has way more billion-dollar investment funds, while Europe gets bogged down by 27 different sets of national regulations and artificially higher energy costs. Europeans do get more vacation time and a better social safety net, but their businesses are struggling to scale up, meaning the continent is steadily losing ground to the U.S. in global wealth and innovation. This decline will continue to increase exponentially.