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Europe
The geographical region of Europe includes over 44 countries and 752m people. It had the third largest total GDP of the continents in 2018 at 21.9 trillion USD. Average GDP per capita was 34,485 USD, which is highest among the regions. It also had the highest level of exports in 2018 at 10tr USD. From the 15th century, Spain, Portugal, the Netherlands, French and British all developed colonial empires. The Spanish and Portuguese enjoyed the mineral wealth of the new world. While all these countries used African slaves to develop tobacco or sugarcane industries in the new world. In the late nineteenth century, Germany, Belgium, and Italy also began to develop colonial empires. The Netherlands was the forerunner in terms of finance and trade, with the world’s first stock exchange in 1602. Britain led the way with industrialisation in the 18th century, which made steam rather than slaves and gold the new wealth of nations. Trade was becoming global and Europe led the way. By the late 19th century, Germany had also industrialised. Its growing commercial and naval rivalry with Britain contributed to the start of WW1. WW1 saw the emergence of the USA as a superpower and the break-up of the imperial European powers; European colonial empires were to survive until after WW2. The devastation of WW2 brought a determination for a new common future. The European Coal and Steel Community was formed in 1951. This became the European Economic Community in 1957, the European Union in 1993, and monetary union in 2001. The end of the cold war in 1989, saw NATO expand into Eastern Europe followed by the European Union. Many former soviet- Bloc countries have grown strongly through the 1990s and 2000s, including Poland, Czechia, and Estonia. Yugoslavia disintegrated in 1991, but Slovenia and Croatia are now EU members and the Western Balkans aspire to membership. Throughout the 2000s, the relative importance of the German economy grew. In recent years, Europe has been tested by the Greek debt crisis (2009-10), the crisis in Ukraine (2013), the Syrian refugee crisis (2015-16), and Brexit (2016-2020). But despite these challenges, Europe will continue to grow as it enjoys the fruits of trade and further integration.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Many European countries have declining population growth and onerous business regulations. This creates a headwind against the region’s share prices. Many Asian countries have healthy population growth and are embracing
By Klaus Schwab, Dec 14th 2012 The eurozone will not break up. The price of departure is simply too great for any one country. Indeed, when Mario Draghi announced on
The European Union (EU) received the 2012 Nobel Peace Prize on Monday in recognition of over six decades’ contribution to the advancement of peace and reconciliation, democracy and human rights
On Monday Dec 10th Norway’s Prime Minister Jens Stoltenberg hosted a working lunch for EU leaders who will be in Oslo to attend the Nobel Peace Prize Award Ceremony. The
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The priority for Europe now is to overcome the crisis boosting competitiveness and growth. Fast growing emerging markets such as China, India, Russia and Brazil, with strong growth rates and
Overcoming the Myths and Recognizing the Realities of Innovation, Job Creation and Prosperity By Janamitra Devan Innovation drives competitiveness, and maximizing competitiveness is indispensable to achieving sustainable job creation. Any
The Paradox of Taxation The latest tax figures from Britain make interesting reading. Her Majesty’s Revenue and Customs reported a 60% fall in the number of taxpayers declaring an income
The recent statement by France’s minister for industrial Recovery is not going to help France to continue to attract investment from the growth economies. Minister Arnaud Montebourg told French business daily
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The Security Council has called on the international community to give women’s civil society organizations a prominent role in the negotiation, planning and implementation of peace processes and post-conflict development
Executive Summary The already sluggish global recovery has suffered new setbacks and uncertainty weighs heavily on prospects. The euro area crisis intensified in the first half of 2012 and growth
The euro area is entering a new era. The importance of [approval by the German constitutional court of the European Stability Mechanism (ESM)] and the European Central Bank’s (ECB) new
By Professor Jacqueline McGlade At first sight, the fate of threatened species might seem a world apart from the economy. Upon closer examination, however, we start to understand the connections between
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