Intense rivalry or contention among individuals or entities vying for success or dominance in a particular field or endeavor.
Europe's economic prosperity and its ability to pursue crucial goals such as security, human rights, and climate protection hinge on the competitiveness of its economy, a fact underscored by recent developments.
An increase in public debt in some European countries threatens Europe's debt sustainability, a concern that has been highlighted by various economic experts. To address this issue, completing the European Single Market, including a banking and capital markets union, could lead to significant efficiency gains and reduce the high capital outflow to the USA, making more capital available for investments within the EU.
The European Single Market, when fully realised, could bring about substantial benefits. It has the potential to drive significant efficiency gains, reducing capital outflow to the USA and making more capital available for investments within the EU. This strategic move could bolster Europe's economic resilience and competitiveness.
Germany and Europe are deeply intertwined with open trade and close global economic partnerships. To maintain this competitiveness, a strategic trade policy is needed to strengthen international economic partnerships.
A thriving research and innovation landscape is essential for Europe to remain competitive on the global stage. Countries like South Korea, Israel, and the USA invest heavily in research and development, and Europe must follow suit to stay competitive. China, once an imitator, has become an innovator, and the EU and Germany must make future-oriented decisions in prioritising budget funds and providing incentives for companies to invest in research and development.
In light of demographic change, an attractive immigration system for qualified immigration is essential. This includes balanced social security contributions to favour the cost-benefit calculation of highly qualified immigrants.
The state's role is not to be an entrepreneur, but to set attractive framework conditions. This includes a competitive tax system, moderate energy prices, and well-trained specialists. Key organisations working on publications and events related to competitiveness in Germany and the EU, such as the RKW Kompetenzzentrum, DVGW, and the European Commission, play a significant role in this endeavour. Their collaborations and EU-wide activities hold international significance.
The completion of the European Single Market, including a banking and capital markets union, has been brought back to the forefront of the agenda by Mario Draghi and Enrico Letta. Achieving goals in security, climate protection, and human rights in Germany and the European Union requires a strong economic backbone. More private capital is essential for the major challenges of strengthening Europe's defence capabilities and transforming towards climate neutrality.
In conclusion, Europe's economic prosperity is of paramount importance for its ability to address critical issues such as security, human rights, and climate protection. By strengthening the European Single Market, prioritising research and development, and implementing a strategic trade policy, Europe can secure its economic backbone and maintain its global competitiveness.
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