EU Slips Down Rich List of Countries

The Europeans along with Japan and South Korea create a middle grouping. The EU’s GDP per head is now less than half of the US - with South Korea about to overtake it - and with Japan around the same level. Germany ($60,000) and the UK ($56,000) lead this group with Greece as low as $26,000. Spain ($38,000), Italy ($43,000), and France ($51,000) share the group’s slow growth characteristics. The EU members and the UK are held back by expensive energy, over-regulation, and a failure to create conditions where home grown technology businesses can flourish and grow into world-scale companies. This group of countries is falling further and further behind the US, with a few Asian exceptions like Taiwan and South Korea.

China and Russia on $15,000 hover just above the world average of $14,000. Mexico ($14,000), Brazil ($11,000), South Africa ($7,000) and India ($3,000) help keep the world average low. China is now growing at around 5% per annum and India faster. Over this century to date the US has grown twice as fast as the EU. The UK seeking closer ties with the EU is linking itself ever more firmly to a proven slow growth or no growth model. EU economies are digital colonies of the great US corporations. They are deindustrialising rapidly as their penal self harming net zero policies destroy once-great engineering, vehicle, steel, glass, ceramics, textile, petrochemical and other industries.