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Europe spends a lot of money but unfortunately buys the wrong things

Europe spends a lot of money but unfortunately buys the wrong things

America and Europe invest approximately the same proportion of their economic output, but buy very different prospects for the future. Europe invests its money in real estate, and the USA in innovation.

You should not fail because of the money. By 2030, the Black and Green Government will invest €1.5 billion in Climate Attack and Transformation to enable a green transformation of the economy. “This is Austria’s response to the US inflation law,” Economics Minister Martin Kucher said on Tuesday. For a few weeks, politicians in Europe have been increasingly trying to downplay the continent’s competitive disadvantages compared to the United States. The cleantech subsidies are comparable, and the shortage of workers in the United States is no less. And the investments don’t look bad either. The latter is also confirmed by the current report by the European Investment Bank (EIB).

15 years after the end of the financial crisis, the European economy has been hit hard again by the pandemic and the energy crisis. But the economic maneuver was well done out of the gutter. Investments are already back above pre-crisis levels. In terms of economic output, the rate of investment is the same as in the USA. But this is only half the truth. Because Europe and the United States buy very different things for money. It also affects where the two economic blocs will be located in a few years’ time.