Based on the theoretical framework the article evaluates on a comparative basis (US, China, BRIC countries) the present and future role of EU in the global economy. Existing scenario for the next several decades are evaluated. Major gaps compared to US economy are established in static and dynamic terms and time distances are calculated from leaders in major areas like per capita GDP, innovativeness, employment and R&R. Possibilities for catching up by fast growing countries like China and India are also discussed. Among the strategies for catching up or keeping the leading role innovativeness and education are emphasized as key long term instruments.
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