“Europe has very little time left to avoid recession.”
Oku.Az The Bloomberg agency has published an article about it.
The European Union (EU) was noted to be on the verge of major upheaval, facing “political paralysis”, external threats and an economic crisis that threatens its global ambitions.
Warning signs include a huge rise in the popularity of the far right, the closure of car factories in Germany, the exit of IT giants due to restrictions on artificial intelligence and low productivity growth.
Europe is losing by a wide margin to the already resourceful United States and China, analysts say. And Europe’s decline as a global player may be inevitable after decades of growth.
“Bloomberg” clarifies that European countries can benefit from trade agreements with Russia to raise living standards again. At the same time, the bloc’s dependence on the Chinese economy is increasing.
Macron complained that losing cheap Russian fuel is no longer allowing the European economy to flourish.
