Europe's Old Age Seems More Like the Prime Time of Its Youth
Debunking five traditional myths about the European economy, Steven Hill from the Washington Post, reassesses Europe’s economic position vis-à-vis the United States and the World. The “eurosclerotic” European Union is the world’s leading economic bloc, accounting for about one-third of all trade.
Traditionally considered unattractive to investors and uncompetitive, today’s Europe outperforms all in both areas, including the United States, Japan, China, and India. Unemployment stands low at 6.7 percent, though higher than in the United States, extensive welfare systems mitigate effects keeping Europe healthy, capable, and working.
While somewhat dependent on the Middle East and Russia for energy, Europe is the world’s leader in developing alternative energies and fighting climate change.
The Washington Post, October 7, 2007; B03
