When it comes to the digital economy, there is no question that the United States took the lead compared to Europe, causing some European policymakers to look at the competitive edge many leading U.S. tech companies have with fear and envy. But in their eagerness to see Europe catch up, there is a real risk that Europe will focus on protectionist policies that unfairly tilt the playing field to their advantage rather than identify opportunities where European industries can build on their strengths. As the digital economy enters a new phase–one in which data-driven products and services built on the Internet of Things enable a company’s success–Europe is well-positioned to establish itself as a world leader, if it can avoid succumbing to these protectionist urges.
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Image: BMW Werk Leipzig.
