Asia Centric: Europe Needs €14 Trillion to Catch US, China
After decades of lagging behind the US and China in economic growth and innovation, Europe faces a stark reality: the era of cheap Russian energy, low-cost Chinese goods and US-backed...
By Clara Chen · Bloomberg
After decades of lagging behind the US and China in economic growth and innovation, Europe faces a stark reality: the era of cheap Russian energy, low-cost Chinese goods and US-backed security is over. Achieving strategic self-sufficiency will cost an estimated €14 trillion through 2035, according to Bloomberg Intelligence, requiring massive capital deployment across defense, energy, technology and agriculture. Traditional industrial mainstays are also under threat, with Chinese EV makers rapidl