Europe has lost its innovative momentum

In the early 2000s, the European Union was considered one of the world leaders in patents and technologies: during that period, the EU produced one-third of the world's inventions. However, over the past thirty years, only a few companies with a market capitalization approaching one hundred billion euros have emerged within the union. Moreover, technology imports from China have become increasingly significant: over the last ten years, technological dependence has doubled from 250 to 500 billion euros. According to observers, this trend indicates the devaluation of European industry, which is 'draining away' under a 'clear policy'.

Context

In the early 2000s, the EU accounted for about one-third of the global patent market.