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Dubbed a ‘competitiveness crisis’, the EU’s investment, income and productivity are lagging behind the US and China.
Struggling with slow growth, weak productivity and changing demographics, Europe’s share of the global economy is shrinking and lagging behind the United States and China.
Its leaders are worried the continent might not be able to catch up and want to make the European Union more competitive.
To achieve that, former President of the European Central Bank Mario Draghi says the bloc needs “radical change”. But getting more than two dozen nations in the bloc to act jointly and carve out a way forward is challenging.
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