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innvotation and european competitiveness

|Includes: Goldman Sachs Group Inc. (GS)

I am Tomaso Spingardi and I had recently several occasions to participate as guest speaker at roundtables and forums on the topic of asia vs europe.  

in a world dominated by financial scandals (gs, increasing uncertainty on the stability (european monetary union, the dollar, the outlook for China), Europe can still turn the challenge into an opportunity.

the old Ricardo paradox teaches us that there is no need to have an absolute  cost advantage in order to be competitive.  europe needs to invest in education, research, technology and innovation in order to secure a place at the table of the world economy.

greece, portugal, others to come may lead to some destabilization to europe ability to attract capital. but in the longer term only a leading position in value added areas can enhance currently meager european prospects for sustained economic growth.

tomaso spingardi