The past couple of years have been more than challenging for the whole world and especially for Europe. The COVID-19 pandemic, followed by geopolitical turbulence, unveiled some of the structural problems that Europe has been facing for decades, including:
Reduced global influence: With the rise of China and the resilience of the US economy, this has depended in recent years.
Low growth: When the global economy is challenged, European economies are some of the first to slow down or enter a recession.
Population aging: A common problem for all developed economies, and Europe is not an exception.
Reduced competitiveness against developing countries: Europe's conservatism, protectionism, and slow growth have led to reduced competitiveness against rising economies like China.
Increasing energy dependency: The geopolitical crisis and war of 2022, with the subsequent energy crisis and inflation rise, confirmed one of the major challenges of Europe, its energy dependency.
Loose coordination among participating countries: Both the pandemic and the geopolitical crisis that followed confirmed what we all know, that Europe is more difficult to coordinate because of its big diversity at so many different levels.
Overall, Europe is quickly losing momentum in the global economy as it becomes more and more “yesterday’s news”. However, the solution may exist in what we call the “large” Europe scenario.
See the article of George Boretos, Founder & CEO of FutureUP, about the future of Europe, still current although published ten years ago in the Geopolitica Journal, one of the top geopolitics journals in the world!
Download the full report about the Future of Europe
Access the original Forecasting Net post here
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