How the energy crisis, demographic challenges and digitalization affect the EU’s global competitiveness.
The European Union (EU) is undoubtedly one of the largest players on the global economic The European Union stage. However, the energy crisis triggered by Russia’s aggression against Ukraine and the related sanctions have created significant challenges for the European economy. These challenges, in particular the rapid increase in energy prices, affect the EU’s competitive position vis-à-vis other leading economies such as the USA, China and India. And while for countries such as Ukraine, EU accession is still a real chance for a better future, the EU’s global competitiveness is declining.
The most important trends currently shaping the EU economy include:
green energy, the demographic challenge of an aging stockholder data society, slowing economic growth, the struggle for reindustrialization and technological sovereignty, and the need to The European Union increase investment in innovation and digitalization.
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How the EU handles challenges in these five areas will likely determine its future.
Let’s start with green energy
The European Union’s goal is to achieve climate neutrality by 2050. The European Green Deal has become the foundation of the Community’s economic policy, covering all sectors of the economy – from energy and transport to agriculture. In its essence, this is a very good initiative, but unfortunately it comes with a huge cost, not only financial but also social. Given the size of the EU compared to the rest of the world, it is difficult to say that the Green Deal will be able to solve the global problem of climate atb directory change on its own. However, this initiative aims to encourage other countries to take action.
