His point was that European companies stagnate because they don’t expand beyond their comfort zone. He was vindicated this week when the new Fortune Global 500 list showed the number and strength of companies from Europe in decline. The U.S. and China, meanwhile, emerged as the twin engines of the Fortune Global 500. First, he said, the new Fortune Global 500 is “the reality check…of a new world,” in which companies focused on technology and emerging economies have consolidated their global position. The second reason, he indicated, is that many European companies have been blocked from growing at home by domestic and European regulators.

Source: Forbes August 03, 2023 15:46 UTC