EU must act in a unified manner to catch U.S., keep lead over China and India
The European Union needs to take a regionwide approach -- in addition to independent efforts by member countries -- as it tries to catch the United States in labor productivity and remain competitive vis-a-vis emerging powers like China and India, a top economic adviser to the French government told a recent symposium in Tokyo.The EU is still "nowhere" near achieving the goal set out in the so-called Lisbon Agenda of March 2000, which was aimed at innovating the European economy, said Christian de Boissieu, executive chairman of the French Council of Economic Analysis. The potential annual growth rate of the euro zone is around 2 percent today, and to raise that to 3 percent European economies need to invest more in research and development and information technology as set out in the agenda, Boissieu told a Dec. 7 symposium organized by the Keizai Koho Center.
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