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This! Many of the prosperous economies now have few industries/brands that the world depends on. It's been outsourced, replaced by cheaper or better brands in u
by farhanhubble 3y ago
This! Many of the prosperous economies now have few industries/brands that the world depends on. It's been outsourced, replaced by cheaper or better brands in upcoming economies. All that's left is banking and other such nonsense.
- spaceman_2020 3y agoIt’s telling that the biggest European business (by market cap) is a luxury goods company (LVMH). Europe mostly survives by selling its identity, legacy and history to the world. MG, Jaguar, Land Rover - all owned and operated by Chinese/Indian businesses make a big deal of the “British heritage”, when that heritage is just a branding ruse.
- Symbiote 3y agoTaking a single datapoint is unreasonable. The second largest company is pharmaceuticals, the third microprocessor manufacture. If anything, it shows the European economy is more balanced than the American one.
- spaceman_2020 3y agoThe fourth and fifth biggest are a makeup brand (L'Oreal) and a luxury brand (Hermes), respectively. Four of the top 10 are luxury/makeup brands - LVMH, L'Oreal, Hermes, Dior.