Europe's once economic giants are powerless in global competition. Why? Self or external? Let's get to the bottom of Europe's economic woes.
Imagine you have a Ferrari, but you only dare to go around in circles in the backyard. This is the current state of the European economy: with great potential, but bound by its own fears and rules. Europeans seem to have forgotten how to run on the global stage, opting instead for a safe but slow pace.
Let's start with the work culture. The work-life balance that Europeans pride themselves on has become a double-edged sword in global competition. Yes, having six weeks of paid vacation a year sounds fantastic, but how is this game going to be played when your American or Asian rivals are working overtime and you're sunbathing on the beach?
An American entrepreneur working in France once half-jokingly said, "In France, the whole country is on vacation in August." If you want to make business this month, unless you know how to do magic. "This laid-back attitude has improved the quality of life, but it has also left Europe far behind in the global competition
Europe's regulatory environment is like a labyrinth in which entrepreneurs struggle to make their way. Starting a company has to deal with endless paperwork; You also have to be careful not to violate antitrust laws when you scale up. Overregulation stifles innovation and makes European companies uncompetitive in the global marketplace. It's not just about the hours worked.
A German entrepreneur once complained: "Starting a business in Berlin is like dancing in lead shoes, you have ideas and passions, but every step is difficult." "This feeling is prevalent throughout Europe.
Worse still, Europe seems to be blind to its own predicament. They are immersed in the glory of the past, as if they can always lead by virtue of their long history and cultural heritage. As everyone knows, in this rapidly changing world, yesterday's glory cannot guarantee today's success.
Europe's financial markets are in turmoil. In Silicon Valley, a brilliant idea can raise millions of dollars in a week. In Europe, however, entrepreneurs have had to travel from place to place just to scrape together a few hundred thousand euros of start-up capital. This lack of capital has greatly limited the growth and innovation capabilities of European companies.
A French venture capitalist once quipped, "Failure in the United States is seen as experience." Failure in Europe is failure, point to point. "This conservative investment culture has caused many promising ideas to die before they are even born
Energy policy is a pain point in Europe. They chant environmental slogans while putting themselves on the brink of an energy crisis. Soaring gas prices? Don't worry, we have wind power. Oh wait, no wind today. This vacillating energy policy not only increases the operating costs of enterprises, but also seriously affects the competitiveness of Europe's industries.
A Belgian factory owner reluctantly said: "We want to be environmentally friendly, but we also need a stable energy supply. Now it's like playing Russian roulette, not knowing what the next moment will be. ”
European leaders also seem to be aware of the seriousness of the problem. Former ECB President Mario Draghi admitted that Europe's organizational decisions and financing methods are designed for "yesterday's world". But knowing the problem and solving it are two different things. What Europe needs is not rhetoric, but practical reforms.
But the road to reform has not been easy. The 27 member states of the European Union are working in their own way, and reaching a consensus is like climbing to the sky. Imagine if all 50 U.S. states had their own currency, legal, and regulatory systems. This is the challenge facing the EU.
An EU official once joked: "It's harder to reach an agreement in Brussels than to get a pack of cats in line." "Behind this joke lies the inefficiency and complexity of the EU's decision-making mechanism
Faced with this dilemma, some far-right parties, who see Brussels as an "enemy of the people", this populist rhetoric, which may seem eye-catching, does not actually solve the problem, and may even exacerbate Europe's division and weaken its position on the global stage.
Europe saved. Europeans need to think outside of self-limitation, assess strengths and weaknesses, and develop feasible reforms. Streamlining regulatory processes, driving investment in innovation, and maintaining a proud, balanced social welfare system at this time.
It is crucial that Europe regains its ambitions. As Nikola Tangen, head of Norway's sovereign wealth fund, said, we lack ambition. "It's time to wake up the sleeping lion. Europe, with its world-class education system, rich cultural heritage and tradition of innovation, needs to translate these strengths into real competitiveness.
A German entrepreneur once said that Europe is like a sleeping beauty, with great potential and needs to be kissed and woken up. This "kiss" may be a crisis or a bold reform plan, and Europe needs to wake up.
Now that Europe is gradually losing its advantage in global competition, I feel very uncomfortable to see Europe in such a predicament. The European continent, which was once far ahead of the world, has always been concerned about the European economy. Still, I'm optimistic about Europe's potential. If Europe is willing to change, I believe Europe can rise again.
What Europe needs now is not a full-fledged revolution, but a deep self-reflection and adjustment. Europe should reinvigorate innovation and competition while maintaining the concept of social welfare and environmental protection. It takes courage, determination and action.
Europe's predicament is insurmountable, and the key is how to re-emerge. Europe must face up to its problems, think outside the box and embrace change. Only in this way will Europe be able to regain its place on the global economic stage, rather than continuing to play out this ironic tragedy of "self-limitation".
Europe's once economic giants are now like giants lost in the park. To rise, Europe must learn to run in this rapidly changing world. In this way, Europe will be able to awaken and regain its role as a protagonist on the global economic stage, rather than a supporting role in the backward era.