Website review: 5 Myths About Sick Old Europe - was...
laodan discovered this in Economics
•2 reviews since Oct 6, 2007
economics
•washingtonpost.com/wp-dyn/content/article/200...
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laodan discovered 7 months ago- 5 Myths About Sick Old Europe
1. The sclerotic European economy is incapable of leading the world. Who're you calling sclerotic? The European Union's $16 trillion economy has been quietly surging for some time and has emerged as the largest trading bloc in the world, producing nearly a third of the global economy. That's more than the U.S. economy (27 percent) or Japan's (9 percent). Despite all the hype, China is still an economic dwarf, accounting for less than 6 percent of the world's economy. India is smaller still. 2. Nobody wants to invest in European companies and economies because lack of competitiveness makes them a poor bet. Wrong again. Between 2000 and 2005, foreign direct investment in the E.U. 15 was almost half the global total, and investment returns in Europe outperformed those in the United States. ... corporate America is a huge investor in Europe; U.S. companies' affiliates in the E.U. 15 showed profits of $85 billion in 2005, far more than in any other region of the world and 26 times more than the $3.3 billion they made in China. 5 Myths About Sick Old Europe Excellent article redressing many wrong-headed beliefs about the relative economic power of the different big blocs... GDP: - EU: $US 16 trillion (33% of world GDP) - US: $US 13 trillion (27% of world GDP) - Japan: $US 4.3 trillion (9% of world GDP) - China: $US 2.8 trillion (6% of world GDP) Check how the different blocs perform in light of other parameters (FDI, profits of FDI, productivity, inequality, welfare, energy dependence on fossil fuels, climate changing emissions,...) For most of those parameters Europe is occupying the head position...
- 5 Myths About Sick Old Europe
