COLUMN. To win the cultural and intellectual battle, Europe must staunchly defend its model, writes the economist in his column, dismantling the narrative of a 'declining' continent.
Our biggest strength now is predictability and safety through social, political, and justice systems. Diverse collaboration on fair and safe ground has competitive and collective gain advantages.
Our biggest systematic risks on these unique advantages are deteriorating social systems (including the distribution of wealth) and attacks on basic rights and protections, as well as systematic inertness.
China can compete in many things, especially scale and production. But can it hold onto stability and innovation after tech has been stolen, corruption and nepotism are systemic issues, and bubbles like their real estate construction or pandemic handling are over? How well off will the average citizen be, materially, mentally, socially, and deterministically safe?
Regarding “above fair price” - the problem is currency and labor cost discrepancies. Europe can’t match low income production on price. I don’t know if that was your point, but “fair price” is different depending on the source and depending on which side of the provider and buyer you view from. If you were addressing systematic costs that should be lowered, then I don’t see that from the statement.
A lot depends on the economy, but if Europe can stand its ground and transform into a self-sufficient union, it’s not missing anything that would prevent keeping its strength and collective citizen upsides/goodness. Europe doesn’t have to produce the cheapest goods or be able to export as successfully if it shifts its economic system and political goals.
Our biggest strength now is predictability and safety…
Diverse collaboration on fair and safe ground has competitive and collective gain advantages.
Why?
Our biggest systematic risks
Not lack of speed, knowledge, skills as well as corruption at the top? For a single citizen, deteriorating social systems is a risk, but that is a symptom of lower profits for the products we sell internationally.
But can it hold onto stability and innovation after tech has been stolen
EV, next gen phone networks, …
nepotism are systemic issues,
Could as well be the same or worse in the EU. Von der Leyen’s messages with Pfizer, it’s at the top.
and bubbles like their real estate construction
China is a communist country and can nationalize everything. How about the West where retirement plans depend on the value of houses?
How well off will the average citizen be, materially, mentally, socially, and deterministically safe?
As long as the US does not start a nuclear war against China, the danger is in the EU. If the world buys Chinese cars, chemicals and machines, how will the EU make money?
Regarding “above fair price” - the problem is currency and labor cost discrepancies.
That’s secondary. At first it’s the collapse of margins if there is competition. If the West builds a mine and can take 90% as compensation, that differs from taking 10%.
transform into a self-sufficient union
We always need raw materials and we have to buy them with profits from products that have to compete with Chinese products.
it’s not missing anything that would prevent keeping its strength and collective citizen upsides/goodness.
How about an elite for which goodness is not lip service and a population that doesn’t close its eyes?
Europe doesn’t have to produce the cheapest goods or be able to export as successfully if it shifts its economic system and political goals.
Not cheapest but best deal for a price range. That’s difficult, especially with our energy dependency and limited software capabilities.
Our biggest strength now is predictability and safety through social, political, and justice systems. Diverse collaboration on fair and safe ground has competitive and collective gain advantages.
Our biggest systematic risks on these unique advantages are deteriorating social systems (including the distribution of wealth) and attacks on basic rights and protections, as well as systematic inertness.
China can compete in many things, especially scale and production. But can it hold onto stability and innovation after tech has been stolen, corruption and nepotism are systemic issues, and bubbles like their real estate construction or pandemic handling are over? How well off will the average citizen be, materially, mentally, socially, and deterministically safe?
Regarding “above fair price” - the problem is currency and labor cost discrepancies. Europe can’t match low income production on price. I don’t know if that was your point, but “fair price” is different depending on the source and depending on which side of the provider and buyer you view from. If you were addressing systematic costs that should be lowered, then I don’t see that from the statement.
A lot depends on the economy, but if Europe can stand its ground and transform into a self-sufficient union, it’s not missing anything that would prevent keeping its strength and collective citizen upsides/goodness. Europe doesn’t have to produce the cheapest goods or be able to export as successfully if it shifts its economic system and political goals.
Why?
Not lack of speed, knowledge, skills as well as corruption at the top? For a single citizen, deteriorating social systems is a risk, but that is a symptom of lower profits for the products we sell internationally.
EV, next gen phone networks, …
Could as well be the same or worse in the EU. Von der Leyen’s messages with Pfizer, it’s at the top.
China is a communist country and can nationalize everything. How about the West where retirement plans depend on the value of houses?
As long as the US does not start a nuclear war against China, the danger is in the EU. If the world buys Chinese cars, chemicals and machines, how will the EU make money?
That’s secondary. At first it’s the collapse of margins if there is competition. If the West builds a mine and can take 90% as compensation, that differs from taking 10%.
We always need raw materials and we have to buy them with profits from products that have to compete with Chinese products.
How about an elite for which goodness is not lip service and a population that doesn’t close its eyes?
Not cheapest but best deal for a price range. That’s difficult, especially with our energy dependency and limited software capabilities.