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The EU must move towards federalisation to compete with the US and China

Pavel Bandilov, CEO of BPD Industrial Real Estate Fund REIT, in "The World Is Business" 28.11.2024

The EU must move towards federalisation to compete with the US and China

More attention should be paid to the business climate and economic strengthening, instead of the EU staring at the Green Deal. Although promises are often made in the direction of improvement of the start-up ecosystem, it rarely takes real measures. The guest added that the prudent development of the bloc would be towards federal governance and greater convergence.

Meanwhile, future US President Donald Trump threatens to impose duties on a number of countries, including China, the EU, Mexico and Canada. The interlocutor believes that this will be used as a lever to come to negotiations with Europe on individual sectors. The aggressive stance against Mexico and Canada is interesting because during the Republican’s first term duties were imposed against China and when this became the southern neighbour of the United States compensated for the decline in imports. Now this seems to be not going to happen.

It seems that we are also moving towards a new era in which companies operating with large databases so-called data companies will have an increasing economic impact. The development of artificial intelligence poses some concerns in society about the future development of this sector. But new technologies can give many positives, such as in the electoral process.

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