Thursday , February 25 2021
Home / Project Syndicate / Europe’s Digital Emergency

Europe’s Digital Emergency

Summary:
Although the European Union already has a lot on its hands as it confronts a new wave of COVID-19 infections and seeks to position itself for a sustainable recovery, it must not ignore another crisis looming on the horizon. The bloc is rapidly and inexcusably falling behind China and America in the digital transition. STOCKHOLM – EU Commission President Ursula von der Leyen offered an upbeat assessment in her first annual policy report (“state of the union” address) to the European Parliament this month. Clearly, the agreement this summer on an unprecedented €750 billion (9 billion) recovery fund and renewal package has given the European Union a new sense of strength. The Economic Case

Topics:
Carl Bildt considers the following as important:

This could be interesting, too:

FT Alphaville writes Michael Bolton wants you to break up with your brokerage

Swee Kheng Khor writes Three Vaccine Assumptions for 2021

Jean Pisani-Ferry writes Central Banking’s Brave New World

Christian Edlagan, Maria Monroe writes Expert Focus: Diversifying the economics profession

Although the European Union already has a lot on its hands as it confronts a new wave of COVID-19 infections and seeks to position itself for a sustainable recovery, it must not ignore another crisis looming on the horizon. The bloc is rapidly and inexcusably falling behind China and America in the digital transition.

STOCKHOLM – EU Commission President Ursula von der Leyen offered an upbeat assessment in her first annual policy report (“state of the union” address) to the European Parliament this month. Clearly, the agreement this summer on an unprecedented €750 billion ($879 billion) recovery fund and renewal package has given the European Union a new sense of strength.

But now is not the time for complacency. While Europe can take pride in leading the world toward carbon neutrality and a “green recovery,” COVID-19 cases on the continent are spiking again, and the region remains at serious risk of falling behind in the global technology race.

In terms of the broader economy, there is now talk of a “K-shaped” recovery in which some sectors decline sharply while others boom, often by seizing on opportunities created by the crisis itself. The EU has every reason to worry that its economy comprises more sectors in the first category than in the second, which invariably centers on information and communication technology (ICT).

The pandemic has accelerated the digital transition. China, for its part, has

Carl Bildt
Co-Chair European Council on Foreign Relations @ecfr. Among many other things. På svenska på @cbildt.

Leave a Reply

Your email address will not be published. Required fields are marked *