In contrast to the United States or China, public opinion on Economics and Technology and political attitudes toward new technology have been less favorable in Europe (and the rest of fast-growing Asia). Many governments recognize the importance of supporting the digital economy does not change the fact that European countries have failed to develop an attractive and thriving domestic tech industry. They have also been wary of foreign internet companies, particularly those in the United States.There are various factors contributing to Europe’s reluctance to embrace the new technologies of the digital age. In addition, Europe’s post-war history of rules-based economic integration, some skepticism about free-wheeling American capitalism. And its apparent disregard for Europe's societal norms and a relative weakness in risk finance. As well as an openness to new consumer services that have risen in popularity are all factors that have contributed to the region's current economic woes.The Economic Situation in EuropeLike the United States, Europe has a capitalist economy based on free-market competition and competition. The economy of Europe has a GDP (Gross Domestic Product) of about 20 trillion dollars, and it is home to over 700 million people who live in over 50 different countries. German economic might is second only to France's and the United Kingdoms' size in Europe.It is possible to evaluate individuals’ access to and ability to use information and communication technologies (ICTs) and their digital empowerment in critical social and economic sectors utilizing a set of composite Information and Communication Technologies (ICT) indicators. In our opinion, just having access to ICT facilities is only a prerequisite for progressing toward a digitalized society. The "degree" and "quality" of technology use and the conditions that enable and impede digital empowerment are more important considerations.Intelligent Cities Face a Difficult ChallengeCities have a significant impact on the future of the EU. Growth in these sectors may assist the EU in achieving its objectives of social fairness and economic prosperity and empower people via digital technology and the "European Green Deal." Cities play an essential role in developing thriving innovation ecosystems by bringing local resources together and mobilizing stakeholder participation. As recognized by EU programs, a comprehensive approach to help local policymakers understand the uses of new technology and the opportunities presented by these technologies is required for effective implementation. Cities may take advantage of programs such as the '100 Intelligent Cities Challenge' to put technology to work for them and encourage climate-neutral, long-term development to benefit their citizens.The United States and China Are in Heated Competition With One AnotherThe first aspect that we look at is how Americans and Chinese interact. The United States and China are in heated competition in the current status quo. At first, everyone attempts to take advantage of the current trading system, but this undermines the multilateral trade system's whole purpose. The United States' historical edges are fading. At the same time, China's substantial "infrastructure diplomacy" puts the country well to expand its standards in developing sectors like information and communications technology (ICT) and renewable energy production.The EU is divided between adhering to the traditional norms of a weak partner and taking on the new obligations of a growing competitor in the global marketplace. Even in the worst-case scenario, the international environment would be considerably more cooperative, with China emerging as the only global superpower and the United States being compelled to collaborate.European Union Has Been Pulled into The Regulatory Domain of ChinaThis China promotes a cautious, repressive trade paradigm to avoid disruption and overstretch. The European Union has also been dragged into the supervisory domain of China.The United States and China cooperate in the best-case scenario, but not in a deceitful "G2" manner. The formation of policy alliances around specific problems, as well as the dissemination of intellectual and industrial leaders across the world – including inside EU member statesCloud computing: The cloud computing gap between Europe and the United States and China is considerably more significant than the gap between Europe and China in artificial intelligence.Europe Must Learn from Its Mistakes to Be SuccessfulOn the other hand, the European Union is well aware of this fact. Several ambitious projects, such as the European Alliance for Industrial Data and Cloud and GAIA-X, are being launched in Europe to expand the region's cloud industry. To be successful, Europe must study its blunders and focus on reducing cloud computing costs in Europe while simultaneously improving its reliability. Interoperability rules should encourage start-ups and small and medium-sized companies (SMEs) to participate in cloud computing. Still, laws to protect citizens' data should be implemented to protect citizens' data.Semiconductors: Developing an independent semiconductor capacity will be challenging for the European Union (EU). Furthermore, money alone will not be sufficient to maintain European companies' competitiveness. With this in mind, the EU intends to concentrate on sectors where it already excels, such as automotive processors, artificial intelligence, and Internet of Things devices. The EU should focus on preserving and supporting local manufacturing capabilities rather than directly competing with the United States and Taiwan. It should also promote open chip design standards such as RISC-V rather than directly competing.
