Foreign Media: ECB President Lagarde warned at the World Economic Forum that the U.S. withdrawal from the global order is eroding Europe's competitiveness.
She pointed out that the three pillars of Europe’s post-war growth model—global trade expansion, manufacturing supported by cheap energy, and stable rule-based order under the American security umbrella—are all weakening. Last year, over 2,500 trade restrictions were implemented worldwide; the Trump administration imposed tariffs on EU goods and threatened to exit NATO, while geopolitical risks such as the Iran-U.S. war have put pressure on capital inflows.
Lagarde emphasized that Europe has already missed opportunities in the first wave of digital revolution and must not repeat the mistake. Currently, the combined market capitalization of Europe’s 34 largest listed tech companies amounts to around €1.37 trillion, far short of the more than $23 trillion held by America’s "Big Seven." She called for reforms like the "European Company" initiative to drive integration and scale up AI investments.
Original article: toutiao.com/article/1873963392108544/
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