alt Hacker News> Europe is fucked by both high debt, and lack of innovation
Spoken like somebody who has no idea what they are talking about.
Apart from the large share of fundamental science which Europe has always been bigger in and better at (I mean, there's a huge tunnel in Texas to show that Americans at some point understood this and tried to compete), Europe is funding the military tools of the next generation in Ukraine.
Americans used to be excellent executors, then China took that role. What's left?
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Look at GDP growth in the US vs EU over the last 10 years or so if you want to talk about innovation. Europe has been stagnating economically and real productivity growth is critical to a modern economy. The large hadron collider does some impressive research, but it doesn't move the sort of innovation in practical machinery and infrastructure that powers a modern economy.
As an European, yeah, we probably are doing really good with basic science, but what about innovation when it comes to productivity? Why there is no AI lab (apart from Mistral) in EU? Why there is no European model (and hasn't been probably ever) in the pareto fronteer? Or any other really innovative company in the last while (I believe Spotify was the last European unicorn that transformed the landscape in the market they operate into).
Don't get me wrong, I rather lose the superpower race but enjoy my privacy and work benefits that folks in the US dream of. But the topic was superpower competition and I don't see the EU going anywhere in that front.
We are fragmented, among the top 4 EU economies 2 are struggling with debt (France & Italy), Germany economy is stagnating and the amount of bureaucracy hinders any attempt at innovation, ... .