From parity in 2008 the EU vs US GDP gap is rising

https://lemmy.world/post/308501

From parity in 2008 the EU vs US GDP gap is rising - Lemmy.world

The US GDP is now $25tn vs EU GDP of $19.8tn with UK. Without the UK the EU is 50%.

I do find it interesting that when we talk about economic growth of the West vs China, we are really only talking about American growth. The rest of the EU has stagnated. Is the "global economic order" really beneficial to the west, or just to the United States? We like to talk as if everything that's good for America is also good for Europe, and things like sanctions on China and Russia should be done by everyone, but the rest of the West is not nearly as economically healthy as America. Can Europe actually afford sanctions?
I'm excited to see how this plays out with the current push in Europe to move a lot more heavy industry "back home" in the next 5-10 years. The US is doing the same, so it might come down to who has enough qualified personell and material (or international relations to get material) to move industry most quickly. I think having good relations to countries with material resources is going to become much more important for Europe, US etc. in the next 50 years as it becomes less viable to just plain exploit previous colonies.