Borrowed from that other site…
New EU report: “Europe is stuck in a static industrial structure… [N]o EU company with a market capitalisation over EUR 100 billion that has been set up from scratch in the last fifty years, while all six US companies with a valuation above EUR 1 trillion have been created in this period.”
It is a failure of the EU, that there are companies with market caps over EUR 100billion. That company size means it has a monopoly or a near monopoly. That is why the US has so many of those types of companies. All of them are in either a monopoly or at least only have one or two competitors. The situation in China is similar, but you need to add massive government support.
Why is it a failure of the EU?
I am too lazy to read the report rn, is there anything about the reasons for why that is?
The EU doesn’t allow monopolies.
