In Europe, the economic importance of competition sometimes seems to be overlooked, which is cause for concern, according to Professor Arnoud Boot. “Europe is very important to the Netherlands, but at the same time Europe is often at odds with what the Netherlands is good at.”
While competition in the business community is incredibly important to the Netherlands, according to Boot, he sees that elsewhere in Europe there are completely different ideas about it. ‘France, for example, is more concerned with regulation and cooperation. Europe’s green agenda, over which France has a lot of influence, focuses on cooperation. And cooperation is at odds with competition.’
The shared European home market should indeed be a “stepping stone” for the masses to compete with countries like China, says Boot, but some countries are now working against this. ‘The internal market offers a large internal market, which is essential. This also requires borders to be open and you can easily compete in other countries. And so other countries shouldn’t be able to keep their own companies out of the wind at the expense of outside companies. Because that would frustrate the internal market.’
Competition and Market Guarantor Authority
Apart from this large internal market, according to Boot, Europe’s economic success is due to the European Competition Authority, which ensures that countries are unable to protect their companies. “The Competition Authority is an unimaginable success,” says Boot. “It stands for competition, which leads to innovation, and that’s exactly what we need right now.”
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
