Europe is unable to take advantage of increasing returns in its internal market
The large European internal market should have, as the US market or the Chinese market have , given rise to large companies using this market to take advantage of the increasing returns present in their industry. However, this has not happened in Europe (for large internet companies, for new technology equipment , electric cars, electric batteries, etc.). Why? Because of : European countries’ "industrial nationalism"; The small size of financial markets for new technologies in Europe; The rejection of state interventionism, or state intervention based on bailing out industries of the past.