The US economy and the European Union were roughly the same size in 2008. In 2008 the European Union's GDP was reported to be around $16 Trillion while the United States GDP was reported to be around $14.77 Trillion.
But according to current data in 2024 the EU GDP is estimated to be around $20 Trillion while the United States GDP is reported to be around $28 Trillion. This shows that the European Union GDP only increased roughly by just 25% in the last 16 years as compared to the United States GDP which increased by roughly 90% for the same period.
Also, the European Union Economy was far larger than the United States economy around 2008 by Approximately 8.33% but today the United States is Approximately 40% bigger
The big question is What changed?
Which am going to effectively try my best to Analyze in my Next post
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