Journal of International Relations, European, Economic and Social Studies
• Public expenditure in a number of EU countries are about the half of GDP whereas this figure is about 1/3 of that in the US and Japan, •
Taxes and social security premiums are much higher in the EU than in Japan.
The proportion of taxes and social security contributions made from the salaries of EU citizens is about 57%, whereas in the US this figure is 37% and in Japan 33%.
The share of employment in the public sector is 18% in Europe 8.3% in Japan and 15.7% in Japan.
UNICE noted that these figures demonstrate that even for larger European companies, competition with the U.S. and Japan was becoming more and more difficult, although there were some improvements in European standards in these areas. Still, the EU is not ahead of these two countries in most of these areas. Further, the economic growth in 1980-2008 period reached 2.2% in the European Union, 2.3% Japan, 2.9% in the United States. It reached 6.3% in newly industrialised economies. Recent studies show remarkable progress in China and India. Obviously the centre of gravity of the world economy is shifting from the West towards the East. Add to the list of BRIC countries others like Korea, Indonesia, Singapore, Malaysia and Indonesia; and clearly underscores the fact that an economic power centre is growing in the East. In the areas of defence and security - and despite some promising initiatives and expectations - the European Union’s defense system is far from reaching a level comparable to American military power. In the area of military expense - overall nuclear and conventional capabilities, defense related investments and research - America is well ahead of all European countries combined. European countries have profited from the peace dividend that realized after the end of the Cold War and are reluctant to increase their share of military expenditures; indeed, in the foreseeable future nobody Turkey on the European doorstep
A Publication based on the International Conference organised at the European Parliament/Brussels by Dr. ELENI THEOCHAROUS, Member of the Eu...