Europe has long looked across the Atlantic at the US economy with a mixture of horror and awe. The EU population would not accept the health and social inequalities in America, but it wishes it could be as rich as the US. That tension was amplified in 2023 when the US economy grew 3.1 per cent in the year to the fourth quarter, dwarfing the 0.2 per cent the EU managed. As Americans revel in unexpected economic strength, France feels forced to cut back public spending and Germany frets about recession.
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