High value economic activity needs to encompass technology leadership. It is high technology that delivers faster sales and profits. As such, it also contributes to economic security, an increasingly important policy objective in the age of global shocks. Due to its past industrial strength, Europe has comparatively more to say in mid-technology areas. Its excellence in high technology is limited to several niche areas. The main drawbacks which account for this situation have to do with an insufficiently conducive ecosystem, inferior demand and inadequate funding.
Author: Paweł Świeboda, Senior Visiting Fellow, EPC.
This article is available on the EPC website.
