Macron warns EU has only 2 or 3 years before total US and China dominance

🇪🇺 eu/acc

@EmmanuelMacron is the only European leader who gets the seriousness of the situation right now:

The EU has only 2 or 3 years to stave off total US and China dominance

Washington and Beijing are leaving the European Union lagging behind, French President Emmanuel Macron said in pessimistic remarks.

“Our former model is over. We are overregulating and underinvesting. In the two to three years to come, if we follow our classical agenda, we will be out of the market,” he warned during a panel discussion at the Berlin Global Dialogue meeting on Wednesday.

“The EU could die, we are on a verge of a very important moment,” he added.

The French president argued that Europe is lagging behind the Unites States and China on key files such as climate change, AI, defense and security.

Former European Central Bank President Mario Draghi raised a similar warning in a report published in September, saying that the EU faces an "existential challenge" unless it radically transforms its economy to enhance its competitiveness.

Macron said he fully supports Draghi's conclusions and that Europe should rush to implement them. "I think this is quite true, we are at risk," he said.

“They invest much more, they are much more in advance,” he said, adding that looking at gross domestic product (GDP) per capita in the past three decades the U.S. delivered an increase of 60 percent, Europe only delivered 30 percent.

“And it's not sustainable with the social model that we have,” he added.

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