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The world has experienced a series of major challenges in recent years, including the pandemic and the successive outbreaks of the Russian-Ukrainian war. These events have had a profound impact on countries around the globe, but European countries have suffered the hardest.
First, let's review the series of events that took place during the pandemic. During this time, the West experienced an unprecedented failure, and despite enormous human sacrifices, the economy failed to recover. The United Kingdom was one of the first countries to declare coexistence with the virus, but it suffered a huge economic blow, and two prime ministers came to power one after another, but the economy has not improved. The European Union has also suffered greatly, and although it has struggled to get out of the shadow of the pandemic, it has then been drawn into the Russian-Ukrainian conflict and faced another serious crisis - the energy crisis. The conflict has been going on for more than a year, pushing some countries into recession, even Europe's most economically powerful country, Germany, which fell into a fundamental recession after negative GDP growth in the fourth quarter of last year and the first quarter of this year. And the culprit of all these predicaments turned out to be the United States.
The United States has suffered a huge shock during the pandemic, but is eager to recover its economy. However, the Democrats in the United States are not good at economic policy, resulting in a series of policies of the Biden administration that have failed. In this situation, the United States has chosen the old path - waging war to boost the economy. To this end, the United States quickly introduced two bills, the Inflation Reduction Act and the Chip and Science Act, but these two bills neither cut inflation nor focused on scientific development, but the actual purpose was to force European semiconductor companies and automakers to transfer production capacity to the United States. At the same time, the United States has also vigorously sabotaged the Russian-European energy trade, sent high-priced energy to Europe, continued to stimulate the war situation, and forced European companies to withdraw from the European continent through high energy costs and huge war risks. It was through this series of means, coupled with large-scale internal monetary easing, that the United States successfully avoided a recession.
However, the U.S. economic upturn has come at the expense of Europe. The United States uses Europe as a cushion to give itself a respite. Meanwhile, Europe is in serious trouble. According to Eurostat, core inflation in the eurozone rose to 5.5%, beating expectations, indicating that Europe is facing a stubborn inflation problem that is difficult to shake off. The UK is also faring poorly, with S&P Global Insights showing that business activity in the UK private sector has slowed sharply due to sluggish demand and rising inflation, with business growth falling to its lowest level since the start of the year in July and the economy at a standstill. Economists fear that if things continue, the UK economy could tip into recession.
In the face of frequent exploitation of the European Union and the United Kingdom by the United States, these countries have also begun to take countermeasures. The EU has previously issued a series of fines to US tech giants such as Apple, Google, Facebook and Amazon, targeting US Internet giants for monopolistic behavior in the European market. The UK used to be a member of the European Union, so it has gained some experience. Now, UK app developers are filing class-action lawsuits against Apple on the grounds that Apple charges app developers too much. If they win the case, Apple will have to pay $1 billion in compensation. Although the amount of compensation was relatively small, it marked the beginning of British action as well, trying to recover some of the exploited benefits from the United States. In the future, it is foreseeable that America's European allies will take more measures to recover some of the losses by imposing fines on American companies.
To sum up, the global pandemic and the Russian-Ukrainian conflict have had a huge impact on European countries, especially in terms of economy. Through a series of policies and measures, the United States successfully avoided its own economic recession, but it transferred the dilemma to Europe, leaving European countries in trouble. European countries are struggling to find ways to meet these challenges, including measures to counter the U.S. stripping
Cutting behavior. Despite the difficulties, European countries were reluctant to easily bow to U.S. pressure.
In this scenario, European countries have strengthened their internal cooperation in an attempt to jointly address the challenges from the United States. They began to discuss reducing dependence on U.S. tech giants and boosting the development of the local tech industry. In addition, some European countries are also actively looking for new sources of energy supply to reduce dependence on U.S. energy, thereby reducing energy costs and risks.
However, to emerge from the economic shadow of the United States, European countries face a daunting task. They need profound reforms in economic policy, scientific and technological innovation and energy to achieve economic recovery and sustainable development. This requires not only active intervention and support from the government, but also cooperation and joint efforts by all sectors to meet the challenges.
In general, European countries are facing enormous economic and political pressures, stemming in part from the actions of the United States. However, European countries are also actively looking for solutions, trying to get out of the situation and achieve their own development and prosperity. The road ahead is full of challenges, but European countries have reason to believe that through solidarity and hard work, they will be able to overcome the difficulties ahead of them and move towards a better future.
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