FT.com :: EU still no match for US, finds survey
By Tobias Buck in Brussels
The US remains significantly more competitive than the majority of European Union member states, despite attempts by European leaders to turn the EU into the world's most competitive and dynamic region by 2010.
In some areas, however, including the crucial field of telecommunications, the EU outperforms the US. Further good news comes from Europe's north, where Finland, Denmark and Sweden were all found to be more competitive than the US.
These are the results of a study by the World Economic Forum, based on economic data and the forum's annual Executive Opinion Survey, and due to be published today. The study seeks to track Europe's progress towards the so-called Lisbon goals, a string of economic targets agreed upon by EU leaders in March 2000.
The goal was to challenge US economic hegemony by making Europe "the most competitive and dynamic knowledge-based economy in the world by 2010".
However, the European Commission itself conceded earlier this year that the EU was falling further behind the US in some crucial areas. Economic growth and productivity growth, in particular, have been lagging behind US rates, leading many analysts to conclude that Europe stands little chance of overtaking the US within the next six years.
The forum's study points out that the EU beats the US in only three out of 13 categories: modernising social protection, sustainable development and telecommunications. Europe scores lowest vis-a-vis the US in the areas of innovation, research and development and in creating the right environment for business start-ups.
K-Collector Topics: categories Economics Goals innovation Knowledge Economy Productivity research