The EU lags behind the US and China in advanced technologies and is increasingly dependent on strategic resources. This is stated in the competitiveness strategy of the European Commission (EC), which was presented at a press conference by its head Ursula von der Leyen.
„The EU lags behind the US in advanced technologies, while China has caught up in many sectors and is winning the race for leadership in some new growth areas. The main reason is lack of innovation“, the document notes. It emphasizes that „Europe is unable to turn its ideas into new, marketable technologies and cannot integrate these technologies into its industrial base“.
„At the same time, internal constraints are hindering European companies. They are constrained by high energy prices and a high regulatory burden. They also face an increasingly unequal global competitive environment, characterised by the widespread use of industrial subsidies abroad. Europe is also increasingly dependent on strategic resources and highly concentrated supply chains, the European Commission explained.