Since 2008, the UK has had weak productivity growth compared to the US and France. But France's high-investment model offers more lessons for a smaller, more open economy like Britain.
Geopolitical rivalries threaten the legal order on which European trade depends. To maintain its influence and secure its trade relations, the EU must maintain its openness and build alliances.
China's industrial subsidies and aggressive export-led growth are undercutting German manufacturing. To defend its automotive and engineering sectors, Germany must finally get tough on China with trade and industrial policies.
The EU should reinforce the World Bank and International Monetary Fund to stave off a destabilising financing crunch for many emerging and developing economies.
The populist right and far right will not dominate the new European Parliament. But the election results will influence the EU’s agenda and legislation over the next five years.
Putin’s ‘election victory’ does not mean that he will remain in power forever. Western leaders should plan for continued confrontation, but (unlike Putin) they should not fear change in Russia.
