Europe Falls Further Behind
Albion's Seedlings provides a posting that compares the economic progress of Europe with that of the USA. I am happy to see that at least Canada is doing relatively well.
Adding 1 million net citizens every nine months (one every 13 seconds), America is extending its lead in prosperity over not only poor and moderately wealthy nations, but over virtually all of its erstwhile companions on the “heights” of Mount Prosperity. Next-door neighbour Canada is the only eight digit population close to the US, coming in at 78% of US per capita GDP (PPP adjusted).
The article discusses the rise of Japan, Korea, and China, along with the relative stagnation of Brazil, Russia, India, and Europe. Follow this link to read the entire article.
Unfortunately for Europeans, the member states of the EU appear to be transforming into a large retirement home of limited means. Even more sadly for Europe, the young workers being imported to provide financial support for the native retirees appear to have troublemaking on their minds.
Labels: Canada, european decline
posted by al fin at 11:42 am
3 Comments:
You are using PPP stats. Try using the normal definition of GDP. US has loads of cheap workers in services so it is only natural that the prices for eating a snack out will be cheaper than for instance in Norway which has virtually no immigrants.
I think one of the biggest false believes and arrogances in the US is the almost complete lack of interest in Europe. EU has the biggest GDP in the world (over 30 % of the world GDP) and now it just Nizza agreement approved by Ireland which will make it's decision making more effective. There is a lot going on in Europe, and it is amazing in all the discussions how Europe is ignored ("if we will not take the lead in renewable energy, China will"). OK, first of all, Europe is already the leader in renewable energy. Second, Europe has much more environmentally-oriented population than does neither China or US so this leadership is likely to last.
http://www.skyscrapercity.com/showthread.php?t=677210
Check out this map from 2007. Practically whole EU area is the same colour with the USA. So where is the falling behind?
http://upload.wikimedia.org/wikipedia/commons/7/70/Nominal_GDP_IMF_2008_millions_of_USD.jpg
There is still a gap, EU is still leading in nominal GDP.
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