US innovates, EU regulates
In 2008 the Eurozone and the USA were neck and neck when it came to GDP. Today the Eurozone is at 50 % of the GDP of the United States.
How did that happen?
Simple, risk taking is rewarded in America, overregulated in Europe. It takes 84 days to start a business in France, only 4 days in the USA. Regulations, taxation and compliance scares the talent away from Europe to the USA and to Asia.
Result, 9 of the 10 trillion dollars companies in the world are located in the USA, none in Europe.
Is it too late for Europe to turn things around or has the train passed? Especially with the stimulus Donald Trump will put into American economy…
Sincerely,
Pele23
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