INTERVIEW: Europe no longer attractive global hub, has only itself to blame — expert

Europe's standing as a global economic hub has diminished, according to an expert speaking at the St. Petersburg International Economic Forum. The analyst attributes this decline to internal factors, including demographic stagnation, a lack of innovation, excessive bureaucracy, and ideological rigidity in the energy sector. She also criticized the tendency to blame external forces like Russia for economic downturns, arguing that European nations are primarily responsible for their own challenges. The expert expressed more confidence in the economic prospects of the Global South and East, noting a shift in global attention away from Europe.

This perspective challenges conventional views on Europe's economic trajectory and highlights the potential for a significant shift in global economic power dynamics.