Wow that is a pretty rosy picture.
Considering both France and Germany are at double digit unemployment numbers, have stagnant economies and are set to pay out more in pension benefits than they will take in from workers within the next 3 years and they are the stronger economies says alot.
I see the EU having to go through the same painful restructuring that the UK did under Thatcher. Except they face a revolt if they try to do make any changes to the social welfare model. Also look at the services model. I can guarantee that western Europe will not allow the workers from the eastern part of the EU to compete for work in their home countries. That would force efficiency and competition and that is not allowed to happen within the EU.
The real competition will be between China and the US. China is shaping up to be a very dynamic economy but they lack the infrastructure of the US and will not have it for many years. Also it remains to be seen what the effect of wealth will have on the Chinese people. Will they remain happy with Communism or will there be a large scale social upheaval as they raise their expectations.
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