Policy Briefs - Transatlantic Trends 2023 & Economic Growth between EU and USA
Transatlantic Trends 2023 presents the results of representative surveys
conducted in 14 countries on both sides of the Atlantic - divided into
five chapters, this report assesses public opinion on contemporary
structural issues impacting the world order, transatlantic relations,
security and defense, China, and global challenges.
The Transatlantic Trends series is a flagship publication of the German Marshall Fund of the United States (GMF), providing policymakers, business leaders, experts, and the broader public with in-depth and comprehensive public-opinion analysis of relevant political, economic, and strategic trends.
The Policy Brief by the European Centre for International Political Economy (ECIPE) is a warning call about Europe’s poor economic growth and its consequences for prosperity. The long-term trend of Gross Domestic Product per capita is crucially important but not always easy to grasp. While it’s common to compare levels of growth between countries in a single year, the reality is that it is the long-term trend that matters. An economy that grows at 3 percent per year will double in 24 years but an economy that grows at 1 percent per year will double only in 48 years. For a long time now, the average growth rate in mature and developed European economies has been closer to 1 than 3 percent. This Policy Brief tells a story about the EU’s unfulfilled economic potential but also offers a ray of hope. If the US states have managed to sustain robust rates of economic growth, the EU member states can do it too. However, to do so the EU must bring back economic growth and competitiveness to the center of its economic policy. If Europe is to face the challenges presented by climate change and the digital transition, the growing burden of an aging society and defense budgets, higher economic growth is not an option but a necessity.