New Kerala.com: European Chambers of Commerce report: EU economy 20 years behind the U.S.

New Kerala.com"The EU economy lags 20 years behind the U.S.

According to a study released Friday by the Association of European Chambers of Commerce and Industry. In a comparison study between the EU and the United States on gross domestic product, research and development, productivity and employment levels, the study found that there were significant time distances between the two regions by at least 20 years in some cases. The U.S. has a clear economic time lead, even increasing it after 2000, said Arnaldo Abruzzini, secretary general of Eurochambres. Even the most optimistic assumptions show it will take the EU decades to catch up and only if there is considerable EU improvement. Although the EU showed signs of increasing economic progress during the 1990s, the United States has considerably surpassed the region.Eurochambres explained that aside from keeping track on progress made on the Lisbon Agenda - the EU's economic reform strategy - it is prudent to compare the development of the European economy against the world's leading economy, the United States. Based on the results of the survey, the EU has fallen long behind the United States in terms of income per capita, employment, research and productivity. Note EU-Digest: The Association of European Chambers of Commerce and Industry represents 43 national associations of Chambers of Commerce and Industry, a European network of 2000 regional and local Chambers with over 18 million member enterprises in Europe. The full report is available at http://www.eurochambres.be/PDF/pdf_press_2005/09-SpringBusinessForum11March05.pdf"