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> The Europeans did it by requiring companies to abide by their new law or pay out fines(basically a quasitax) This works only because EU is a relatively big a
by xyzzyz 3y ago
> The Europeans did it by requiring companies to abide by their new law or pay out fines(basically a quasitax)
This works only because EU is a relatively big and wealthy economy. If, say, Chile or Botswana tried to do the same, US companies would be like “lol, bye”. If, or when the Europe becomes just as poor as these relative to US, the incentive for US companies to stay in Europe and pay these ridiculous fines, will simply not be there, and so they will leave.
Thus, if Europe’s strategy is to impose more and more strict regulations and taxes on US companies, it must return to growing in wealth in power. Otherwise, this strategy will backfire: not only Europe will stay poor, but also the highly productive companies will exit it.
- dontupvoteme 3y ago>stay poor Have californians started thinking of Europe as poor?
- deleted 3y ago[deleted]
- _dain_ 3y agothe poorest american state is still richer in per capita terms than france or germany. europe is poor and getting poorer, relative to america.
- wasmitnetzen 3y agoYet the life expectancy in most EU countries is much higher than in America. Wealth isn't the only relevant metric. [1]: https://ourworldindata.org/life-expectancy#differences-in-life-expectancy-across-the-world https://ourworldindata.org/life-expectancy#differences-in-li...
- _dain_ 3y agothey're dying sooner because of diseases of ... affluence. and we can expect the new weight loss drugs to make a noticeable dent in that (at the cost of who-knows-what side effects, but they can't be as big a killer as obesity)
- biggoodwolf 3y agoI have a bridge to sell you... Unfortunately, it is likely those medicines will drive the next wave of chronic disease.
- xyzzyz 3y agoYes, the Americans are not as effective at war on drugs as Europeans, which is why we have very high rates of death from overdoes, which is the main driver of low life expectancy.