A peek at how quickly Europe is falling behind the United States | Forexlive

The FT today writes about how the US is quickly growing far richer than the EU and remains far more dynamic.

Some stats:

• In 2008, the EU and US economies were roughly the same size
• In 2022, the US economy grew to $25 trillion compared to $19.8T for the EU and UK combined
• The US is 50% larger than the EU without the UK
• The 7 largest companies in the world are all America
• Only two European companies are in the top-20: ASML and SAP

The only things Europe are currently leading in are lifestyle brands and tourism. There’s a battle for green energy right now but the enormous US subsidies in the IRA make it a good bet the US will win there as well.