News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
18
o
Bekaa
9
o
Keserwan
20
o
Metn
20
o
Mount Lebanon
14
o
North
21
o
South
14
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Concerts
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
18
o
Bekaa
9
o
Keserwan
20
o
Metn
20
o
Mount Lebanon
14
o
North
21
o
South
14
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Decline of EU: Challenges and Slow Growth in Competitive Global Economy
News Bulletin Reports
11-06-2024 | 12:45
High views
Share
Share
3
min
Decline of EU: Challenges and Slow Growth in Competitive Global Economy
A report by Lea Fayad, English adaptation by Nadine Sassine
Let's go back about 15 years. At that time, the EU economy was the top competitor to the US. But look at how it lost the competition and is now much smaller in comparison. Over these 15 years, the EU economy grew only 21%, compared to 72% for the US. Meanwhile, China has soared with a 290% growth!
If Europe continues with this slow growth, it could lose its position as a leading economic power, resulting in a decline in Europeans' living standards, job opportunities, and development.
So, what’s the problem with the EU?
-
First, the weak production capacity, which is a growth engine. The aging continent suffers from high aging rates and a decreasing number of working-age people. Even those of working age prefer shorter working hours, which impacts productivity.
-
COVID-19 and the Russian war on Ukraine have made things worse. They have led to record-high prices and inflation levels in the EU since the 1980s. Energy and transportation costs have increased as Europe is forced to turn to more expensive alternatives to Russian gas, its main source. The result: living difficulties and hesitation among citizens to spend their money, leading to decreased consumption and the closure of some factories.
-
Not a single one of the top 10 tech companies in the world is European.
Europe is falling behind in the global innovation race in many areas, from batteries to artificial intelligence, solar panels, and semiconductors, which are growth drivers in the modern world.
Meanwhile, other countries like the US and China are heavily supporting these sectors. Europe, for instance, used to produce 44% of the world's semiconductors but now produces barely 9%. However, it still has ASML, a Dutch company that plays a crucial role in the global semiconductor manufacturing process.
-
The regulatory frameworks set by the EU have made it a hostage to bureaucracy and administrative routine, deterring new investments. The austerity policies adopted by EU governments after the 2008 global financial crisis led to reduced investments in infrastructure and other areas, hindering economic growth.
News Bulletin Reports
EU
Growth
Economy
Next
Israeli army plans to reinforce border with Lebanon, prepares for withdrawal from Western sector
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
0
News Bulletin Reports
13:25
Could a 'massive city' lie beneath Egypt’s pyramids? New findings raise questions
News Bulletin Reports
13:25
Could a 'massive city' lie beneath Egypt’s pyramids? New findings raise questions
0
News Bulletin Reports
12:55
Rocket attacks from Lebanon’s south—US wants answers: What’s the latest?
News Bulletin Reports
12:55
Rocket attacks from Lebanon’s south—US wants answers: What’s the latest?
0
News Bulletin Reports
12:53
US ramps up preparations for possible strike on Iran, deepens defense ties with Israel
News Bulletin Reports
12:53
US ramps up preparations for possible strike on Iran, deepens defense ties with Israel
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
0
Middle East News
2025-03-05
US aid cuts hinder Iraqi repatriations from IS-linked Syria camp: AFP
Middle East News
2025-03-05
US aid cuts hinder Iraqi repatriations from IS-linked Syria camp: AFP
0
World News
12:30
Tesla shares surge after report Musk to leave Trump role
World News
12:30
Tesla shares surge after report Musk to leave Trump role
0
Israel-Gaza War Updates
13:48
Gaza's health ministry says 1,066 killed since Israel resumed strikes
Israel-Gaza War Updates
13:48
Gaza's health ministry says 1,066 killed since Israel resumed strikes
Videos
d-none hideMe
0
Lebanon News
2025-03-23
LBCI's Pierre El Daher bids farewell to Hoda Chedid: You will always be our guiding light
Lebanon News
2025-03-23
LBCI's Pierre El Daher bids farewell to Hoda Chedid: You will always be our guiding light
0
Middle East News
2025-03-19
Israeli official urges international support for Lebanese government and army
Middle East News
2025-03-19
Israeli official urges international support for Lebanese government and army
0
Lebanon News
2025-02-23
Israeli aircraft fly at low altitude over Beirut during Hezbollah's former leaders funeral
Lebanon News
2025-02-23
Israeli aircraft fly at low altitude over Beirut during Hezbollah's former leaders funeral
0
Lebanon News
2025-02-23
Coffins of Sayyed Hassan Nasrallah and Hashem Safieddine enter Sports City Stadium (Video)
Lebanon News
2025-02-23
Coffins of Sayyed Hassan Nasrallah and Hashem Safieddine enter Sports City Stadium (Video)
0
Lebanon News
2025-02-23
Tens of thousands gather at Sports City Stadium for farewell to Hezbollah’s former leader Nasrallah (Video)
Lebanon News
2025-02-23
Tens of thousands gather at Sports City Stadium for farewell to Hezbollah’s former leader Nasrallah (Video)
0
Lebanon News
2025-02-14
Ahmad Hariri to LBCI: Future Movement returns to political arena to participate in all upcoming political events
Lebanon News
2025-02-14
Ahmad Hariri to LBCI: Future Movement returns to political arena to participate in all upcoming political events
0
Lebanon News
2025-02-13
Saad Hariri holds series of diplomatic and religious meetings in Beirut
Lebanon News
2025-02-13
Saad Hariri holds series of diplomatic and religious meetings in Beirut
0
Lebanon News
2025-02-13
LBCI monitors removal of barriers and barbed wire in Downtown Beirut
Lebanon News
2025-02-13
LBCI monitors removal of barriers and barbed wire in Downtown Beirut
0
Lebanon News
2025-02-10
Armed robbery in Beirut's Hamra turns deadly as shop owner shoots fleeing robbers (Video)
Lebanon News
2025-02-10
Armed robbery in Beirut's Hamra turns deadly as shop owner shoots fleeing robbers (Video)
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
13:25
Could a 'massive city' lie beneath Egypt’s pyramids? New findings raise questions
News Bulletin Reports
13:25
Could a 'massive city' lie beneath Egypt’s pyramids? New findings raise questions
2
Lebanon News
06:02
Diplomatic pressure builds on Lebanon to set Hezbollah disarmament timeline, sources tell LBCI
Lebanon News
06:02
Diplomatic pressure builds on Lebanon to set Hezbollah disarmament timeline, sources tell LBCI
3
News Bulletin Reports
12:55
Rocket attacks from Lebanon’s south—US wants answers: What’s the latest?
News Bulletin Reports
12:55
Rocket attacks from Lebanon’s south—US wants answers: What’s the latest?
4
Variety and Tech
09:19
Apple credits Lebanese researcher for uncovering major iOS security flaw
Variety and Tech
09:19
Apple credits Lebanese researcher for uncovering major iOS security flaw
5
Lebanon News
04:08
Lebanese army shuts down two illegal border crossings to curb smuggling
Lebanon News
04:08
Lebanese army shuts down two illegal border crossings to curb smuggling
6
Lebanon News
07:02
Lebanon's $250 million war debris loan delayed pending Council for Development and Reconstruction appointments, sources tell LBCI
Lebanon News
07:02
Lebanon's $250 million war debris loan delayed pending Council for Development and Reconstruction appointments, sources tell LBCI
7
Lebanon News
05:33
Israeli army conducts sweeping operation near Meiss El Jabal, South Lebanon: NNA
Lebanon News
05:33
Israeli army conducts sweeping operation near Meiss El Jabal, South Lebanon: NNA
8
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
News Bulletin Reports
13:35
Will Beirut's municipal elections break tradition? Here’s what we know
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More