Financial TimesFinancial Times

Europe has fallen behind America and the gap is growing

By Gideon Rachman

19 Jun 2023 · 4 min read

Editor's Note

Europe's dependence on the U.S. for technology, energy and military defense is undermining any aspirations the EU might have for "strategic autonomy," argues the FT's Gideon Rachman.

The Ukraine war has revived the transatlantic alliance. But the relationship between the US and its European allies is increasingly lopsided.

The US economy is now considerably richer and more dynamic than the EU or Britain — and the gap is growing. That will have an impact well beyond relative living standards. Europe’s dependence on the US for technology, energy, capital and military protection is steadily undermining any aspirations the EU might have for “strategic autonomy”.

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