A recent trip to Europe has opened my eyes to the economic disparities between the US and Europe. Traveling from Germany, Norway to Spain, I witnessed firsthand how America’s economy is vastly outpacing Europe’s. While Americans often focus on our economic problems, Europeans discuss how they struggle to keep up with the US powerhouse.
The statistics are clear: in 2008, the US and euro-zone economies were roughly equal in size. Today, the American economy is almost twice as large as Europe. The differences are evident across various measures, including average European income being 27% lower than in the US and average wages being 37% lower. Even after Brexit and hopes of a closer relationship with the US, Britons must face reality: they would be the poorest state with a per capita GDP lower than that of Mississippi if they became part of the UK.
Given these uncertain economic times, staying informed about global economic trends is crucial. The Washington Post recently published an opinion piece by Fareed Zakaria discussing these disparities. To learn more about this topic or contact Fareed Zakaria at fareed.zakaria@turner.com for further insights and analysis.
Staying informed and educated on economic trends will help you navigate these challenging times effectively.