Here's what it would take for Europe to successfully compete with the U.S. and China, according to EY
Briefly

Mario Draghi emphasized that the European Union must enact urgent reforms in the innovation lifecycle, decarbonization, and security to maintain its global position.
Recent EY research highlighted a concerning trend: foreign direct investment in Europe dropped by 4% in 2023, marking an 11% decline from pre-pandemic levels.
Policymakers alone cannot drive the necessary transformative change; businesses must also take an active role in shaping Europe's future through innovation and investment.
The EU is set to confront a complicated geopolitical environment, necessitating a focus on building close trading partnerships and reducing external dependencies.
Read at Fortune Europe
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