The U.S. should care about Europe too

That is the message of my latest Bloomberg column, yes Europe is falling behind but we should worry rather than gloat.  Here is one excerpt:

A deeper truth is that Europe still has unparalleled cultural and political capital, often along dimensions that the US cannot match. Europe was the center of the world for a long time, even if it no longer is, and has a detailed and emotionally vivid understanding of how distinct traditions and histories can coexist. Of course they often don’t, and that too is part of Europe’s lesson for the world.

On a more practical level, the US and other nations need a Europe that can defuse its populist right pressures, handle external migration from the Middle East and Africa, and provide a partial defense against Russian expansion in Ukraine and other parts of far eastern Europe. A Europe that is declining in relative economic importance is unlikely to be able to perform those roles well.

All of which is to say, a Europe striving to regain its place atop the global economy is a welcome development not just for Europeans but for small-d democrats everywhere. If only it would go about the task with a greater sense of urgency.

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