Can Europe hold its own against the United States and China?

Two observations form the basis for some concern: Industry is shifting from Europe to the United States and even more so to China; The major technology companies are concentrated in the United States and China. So can Europe hold its own against the United S t ates and China, or will it become an industrial and technological minnow despite the size of its domestic market? We look at a number of “effort” indicators to determine whether Europe is attempting to hold its own: The research and innovation effort; The population’s education level; Companies’ effort to invest in technology and climb up the value chain; Available funding for innovation. We see that Europe lags behind the United States and is being caught up by China when it comes to the research and innovation effort, the effort to invest in technology and climb up the value chain and funding availability.