Europe is not ready for the transitions
Like the world’s other regions, Europe now faces two transition s : the digital transition and the energy transition. But it is highly unprepared for th em : There are no large internet companies in Europe and corporate investment in new technologies is weak; Europe has not been able to give rise to manufacturers of equipment for renewable energies or in the area of electric batteries. In most cases , Europe therefore depends on the rest of the world for information and energy transition technologies . This means that these two transitions will make Europe poorer.